Lessons and Policy Implications from the Global Financial Crisis

The ongoing global financial crisis is rooted in a combination of factors common to previous financial crises and some new factors. The crisis has brought to light a number of deficiencies in financial regulation and architecture, particularly in the treatment of systemically important financial institutions, the assessments of systemic risks and vulnerabilities, and the resolution of financial institutions. The global nature of the financial crisis has made clear that financially integrated markets, while offering many benefits, can also pose significant risks, with large real economic consequences. Deep reforms are therefore needed to the international financial architecture to safeguard the stability of an increasingly financially integrated world.
Publication date: February 2010
ISBN: 9781451963021
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Topics covered in this book

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Finance , International financial architecture , regulation and supervision , subprime lending , contagion , households leverage , financial institutions , credit booms , systemic risk , deposit insurance , Economics Education and Teaching of Economics: Undergraduate , General

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