regulatory responses to the financial crisis: an interim assessment
The global financial crisis that started in 2007 exposed the failure of governments and legislative bodies to regulate the banking industry adequately at a national and global level. Post-crisis reforms and structural changes have ensued: the switch from the G7 to the G20 for example and an attempt to strengthen the centre of the international financial system. The EU now has to decide whether a fiscal and banking union is the logical next step to complete economic integration and to stave off future crises in the Eurozone. In the UK, the Bank of England has assumed greater responsibility for regulation. Whether such responses to this crisis will safeguard against future catastrophe is unknown, but there are already signs that the response so far will prove to be inadequate.
|This chapter was published in: Steven N. Durlauf & Lawrence E. Blume (ed.) , , chapter 1, pages , 2012,2nd quarter update.|
|This item is provided by Palgrave Macmillan in its series The New Palgrave Dictionary of Economics with number v:6:year:2012:doi:3879.|
|Contact details of provider:|| Web page: http://www.palgrave-journals.com/|
|Order Information:|| Web: http://www.dictionaryofeconomics.com/help/faq#_Toc198623697 Email: |
When requesting a correction, please mention this item's handle: RePEc:pal:dofeco:v:6:year:2012:doi:3879. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sheeja Sanoj)
If references are entirely missing, you can add them using this form.