Del i serien International Corporate Law and Financial Market Regulation

Governance of Global Financial Markets

The Law, the Economics, the Politics

Inbunden, Engelska, 2012

2 169 kr

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The recent financial crisis proved that pre-existing arrangements for the governance of global markets were flawed. With reform underway in the USA, the EU and elsewhere, Emilios Avgouleas explores some of the questions associated with building an effective governance system and analyses the evolution of existing structures. By critiquing the soft law structures dominating international financial regulation and examining the roles of financial innovation and the neo-liberal policies in the expansion of global financial markets, he offers a new epistemological reading of the causes of the global financial crisis. Requisite reforms leave serious gaps in cross-border supervision, in the resolution of global financial institutions and in the monitoring of risk originating in the shadow banking sector. To close these gaps and safeguard the stability of the international financial system, an evolutionary governance system is proposed that will also enhance the welfare role of global financial markets.

Produktinformation

Utgivningsdatum2012-04-26
Mått152 x 229 x 27 mm
Vikt830 g
FormatInbunden
SpråkEngelska
SerieInternational Corporate Law and Financial Market Regulation
Antal sidor500
FörlagCambridge University Press
ISBN9780521762663

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Bolagsrätt inom Juridik

1. Introduction; Part I. Financial Markets and Financial Crises: 2. Financial markets and financial crises; 3. The causes of the global financial crisis; Part II. The Evolution of Global Governance Structures: 4. The evolution of global financial governance and development of international financial regulation; 5. The 'softness' of soft law and global financial governance; Part III. Regulatory Reform and a New Governance Model for Global Financial Markets: 6. Regulatory and supervisory reform: US, EU, Basel Committee; 7. Global reform of the 'too-big-to-fail-institution' and the new resolution regimes in the US and the EU; 8. An evolutionary model for global financial governance.

'Certainly far too much of the thinking underpinning the regulatory reforms since the crisis has been an extension of the thinking that delivered us the crisis - people are still thinking within the same box. Professor Avgouleas has stepped out of this box, and dared to think larger thoughts, and propose more fundamental reforms, that actually seek to address the seminal change from a system of national financial systems to one truly globalized financial system … With a fuse burning in the Eurozone that could ignite a far larger crisis than the GFC, nothing could be more urgent than the G20 resolving to make at least some of the ideas in this book a reality.' Ross Buckley, University of New South Wales