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Financial Reform after the Crisis: An Early Assessment

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  • Nicolas Veron

    (Peterson Institute for International Economics)

Abstract

This working paper aims to take stock of global efforts towards financial reform since the start of the financial crisis in 2007–08 and to provide a synthetic (if simplified) picture of their status as of January 2012. Underlying dynamics are described and analyzed both at the global level (particularly G-20, International Monetary Fund, and the Financial Stability Board) and in individual jurisdictions, as well as the impact the crisis has had on these regions. The possible next steps of financial reform are then reviewed, including: the ongoing crisis management in Europe, the new emphasis on macroprudential approaches, the challenges posed by globally integrated financial firms, the implementation of harmonized global standards, and the links between financial systems and growth.

Suggested Citation

  • Nicolas Veron, 2012. "Financial Reform after the Crisis: An Early Assessment," Working Paper Series WP12-2, Peterson Institute for International Economics.
    • Handle: RePEc:iie:wpaper:wp12-2
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    References listed on IDEAS

    as
    1. Nicolas Veron & Stephane Rottier, 2010. "Not All Financial Regulation Is Global," Policy Briefs PB10-22, Peterson Institute for International Economics.
    2. Ostry, Jonathan D., 2012. "Managing Capital Flows: What Tools to Use?," Asian Development Review, Asian Development Bank, vol. 29(1), pages 83-89.
    3. Tarullo, Daniel, 2008. "Banking on Basel: The Future of International Financial Regulation," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 4235, October.
    4. John C. Haltiwanger & Ron S. Jarmin & Javier Miranda, 2010. "Who Creates Jobs? Small vs. Large vs. Young," NBER Working Papers 16300, National Bureau of Economic Research, Inc.
    5. Nicolas Véron & Morris Goldstein, 2011. "Too big to fail- the transatlantic debate," Working Papers 495, Bruegel.
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    Cited by:

    1. Ilias Alami, 2019. "Taming Foreign Exchange Derivatives Markets? Speculative Finance and Class Relations in Brazil," Development and Change, International Institute of Social Studies, vol. 50(5), pages 1310-1341, September.
    2. Richard Waldron, 2019. "Financialization, Urban Governance and the Planning System: Utilizing ‘Development Viability’ as a Policy Narrative for the Liberalization of Ireland's Post‐Crash Planning System," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 43(4), pages 685-704, July.
    3. Juliette Wilson‐Thomas, 2021. "Time's up: Analyzing the feminist potential of time banks," Gender, Work and Organization, Wiley Blackwell, vol. 28(6), pages 2114-2131, November.
    4. Bastien Drut, 2013. "La répression financière est-elle la solution pour « liquider » la dette publique dans la zone euro ?," Working Papers CEB 13-003, ULB -- Universite Libre de Bruxelles.

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    More about this item

    Keywords

    banks; financial regulation; global financial crisis; global governance; international standards;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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