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Regulating Systemic Risk

In: The International Financial Crisis Have the Rules of Finance Changed?

Author

Listed:
  • Masahiro Kawai

    (Asian Development Bank Institute, Tokyo)

  • Michael Pomerleano

    (World Bank, USA)

Abstract

The following sections are included:IntroductionImportance of Crisis PreventionPolicy mistakes behind the global financial crisisFlaws in financial regulation and supervisionFailure of monetary policy to contain financial imbalancesWeak global financial architecturePrinciples of crisis containmentMacroeconomic and financial surveillance and macroprudential supervisionSystemic Stability Regulation — PrinciplesClear objectives and mandates of a systemic stability regulatorSufficient regulatory resources to fulfill responsibilitiesEffective implementation by the systemic stability regulatorEffective organization of a systemic stability regulatorAlternative Models of Systemic Stability RegulationGlobal practices of central banks in financial stabilityReform proposals in the U.S., the U.K., and the European UnionU.S. stability reform planU.K. stability reform planEuropean Union reformsAlternative modelsConclusionsReferences

Suggested Citation

  • Masahiro Kawai & Michael Pomerleano, 2011. "Regulating Systemic Risk," World Scientific Book Chapters, in: Asli Demirgüç-Kunt & Douglas D Evanoff & George G Kaufman (ed.), The International Financial Crisis Have the Rules of Finance Changed?, chapter 10, pages 127-153, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814322096_0010
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    Cited by:

    1. is not listed on IDEAS
    2. International Association of Deposit Insurers, 2012. "Handling of Systemic Crises," IADI Research Papers 12-10, International Association of Deposit Insurers.
    3. Dragan Miodrag Momirovic, 2012. "New Architecture Of Global Financial Supervision-Macroprudential Oversight," EuroEconomica, Danubius University of Galati, issue 2(31), pages 88-107, May.
    4. Morgan, Peter J., 2012. "The role of macroeconomic policy in rebalancing growth," Journal of Asian Economics, Elsevier, vol. 23(1), pages 13-25.

    More about this item

    Keywords

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    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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