Verdict on the crash causes and policy implications
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| Format: | Buch |
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| Sprache: | English |
| Veröffentlicht: |
London
Inst. of Economic Affairs
2009
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| Schriftenreihe: | Hobart paperback
37 |
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| 245 | 1 | 0 | |a Verdict on the crash |b causes and policy implications |c ed. by Philip Booth with contributions from James Alexander ... |
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| 650 | 4 | |a Bank failures |x History |y 21st century | |
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Datensatz im Suchindex
| _version_ | 1804139417463422976 |
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| adam_text | VERDICT ON THE CRASH: CAUSES AND POLICY IMPLICATIONS EDITED BY PHILIP
BOOTH WITH CONTRIBUTIONS FROM JAMES ALEXANDER MICHAEL BEENSTOCK PHILIP
BOOTH EAMONN BUTLER TIM CONGDON LAURENCE COPELAND KEVINSDOWD JOHN
GREENWOOD SAMUEL GREGG JOHN KAY DAVID LLEWELLYN ALAN MORRISON D. R.
MYDDELTON ANNA SCHWARTZ GEOFFREY WOOD THE INSTITUTE OF ECONOMIC AFFAIRS
CONTENTS THE AUTHORS 11 FOREWORD BY JOHN BLUNDELL 17 SUMMARY 19
EDITOR S PREFACE 21 PART ONE: THE CAUSES OF THE CRASH OF 2008 25 1
INTRODUCTION 27 PHILIP BOOTH THE CAUSES OF THE CRASH 27 CONCLUSION 34 2
THE SUCCESSES AND FAILURES OF UK MONETARY POLICY, 2000-08 37 JOHN
GREENWOOD INTRODUCTION 37 BENIGN BEGINNINGS 37 POLICY DERAILED 39
CONCLUDING LESSONS 41 3 ORIGINS OF THE FINANCIAL MARKET CRISIS OF 2008
45 ANNA]. SCHWARTZ FACTORS CONTRIBUTING TO THE CRISIS 45 HOW TO AVOID A
REPLAY OF THE THREE FACTORS THAT PRODUCED THE CREDIT MARKET DEBACLE 49
REFERENCES 50 4 THE FINANCIAL CRISIS: BLAME GOVERNMENTS, NOT BANKERS
EAMONN BUTLER THE DEEP ROOTS OF THE CRISIS HOW POLITICIANS FORCED
BANKERS TO MAKE BAD LOANS BAD LOANS AND BOOMING MARKETS THE INEVITABLE
BUST I THE MORAL: IT S GOVERNMENT FAILURE, NOT MARKET: FAILURE
BIBLIOGRAPHY 5 MARKET FOUNDATIONS FOR THE NEW FINANCIAL ARCHITECTURE
MICHAEL BEENSTOCK INFORMATION RUNS REGULATORY FAILURE EVIDENCE
PRINCIPLES OF FINANCIAL MISREGULATION THE FUTURE REFERENCES 6 THE
FAILURE OF CAPITAL ADEQUACY REGULATION KEVIN DOWD RATIONALE PROCESS
RULES AND EFFECTS CONCLUSIONS REFERENCES 51 51 52 54 55 57 57 59 59 61
64 66 67 70 73 73 74 76 79 80 7 REGULATORY ARBITRAGE AND OVER-REGULATION
81 JAMES ALEXANDER THE CREDIT CYCLE 82 THE BANKS AND CREDIT 82 RESERVE
RATIOS MORPH INTO CAPITAL RATIOS AS DEPOSITORS LOSE THEIR PRIMACY 83
MORE REGULATION AS THE REGULATORS RESPOND TO FAILURE OF REGULATION 84
BASEL I: GOOD IN THEORY, WEAK IN PRACTICE 85 BACK TO THE BUBBLE 86
DEREGULATION OR ABROGATION? 1 87 BASEL I AVOIDED 88 THE CORRUPTION OF
THE RATINGS AGENCIES 89 BASEL II LEADS TO DISASTER 90 IT GETS WORSE 91
BACK TO THE FUTURE 93 8 BANKING REGULATION AND THE LENDER-OF-LAST-RESORT
ROLE OF THE CENTRAL BANK 95 TIM CONGDON 9 ACCOUNTING ASPECTS OF THE
FINANCIAL CRISIS 101 D. R. MYDDELTON INTRODUCTION 101 BOOK VALUE OF
ASSETS 102 MARKING TO MARKET 103 ACCOUNTING FOR INVESTMENTS UNDER IAS 39
104 PROBLEMS IN MARKING TO MARKET 104 CHANGE IN STANDARDS 106 MARKING TO
MARKET VERSUS ECONOMIC VALUE 10 7 REFERENCES 108 10 THE NON-PROBLEM OF
SHORT SELLING 109 LAURENCE COPELAND WHAT WOULD BE THE CONSEQUENCES OF A
PERMANENT BAN ON SHORT SELLING? * 111 WHY DO HEDGE FUNDS SELL SHORT? 112
A BAN ON SHORT SELLING: WHO BENEFITS? 114 11 RATINGS AGENCIES,
REGULATION AND FINANCIAL MARKET STABILITY ALAN D. MORRISON 117 THE
INFORMATION CONTENT OF BOND RATINGS 118 TOO MUCH MATHS, NOT ENOUGH
ECONOMICS 120 CREDIT RATINGS, REGULATION, AND INCENTIVES 123 CONCLUSION
. 126 REFERENCES * 12 THE GLOBAL FINANCIAL CRISIS: THE ROLE OF FINANCIAL
INNOVATION 129 DAVID T. LLEWELLYN INTRODUCTION AND KEY THEMES 129
FINANCIAL INNOVATION AND EFFICIENCY 130 FINANCIAL INNOVATION AND
STABILITY 131 WHAT IS NEW IN FINANCIAL INNOVATION: CREDIT RISK SHIFTING
13 3 RISK ANALYSIS: SHIFTING VERSUS CHANGING 136 FINANCIAL INNOVATION
AND A NEW ECONOMICS OF BANKING: THE ULTIMATE CAUSE OF THE CRISIS 137
CONCLUSION 139 REFERENCES 141 13 MORAL FAILURE: BORROWING, LENDING AND
THE FINANCIAL CRISIS 145 SAMUEL GREGG INTRODUCTION 145 NOT A NEW ISSUE
146 INDISPENSABLE BASIC VIRTUES 14 7 CAN WE REPLACE PRUDENCE WITH
REGULATION? 149 CONCLUSION 151 REFERENCES 152 PART TWO: THE REGULATORY
RESPONSE 14 MORE REGULATION, LESS REGULATION OR BETTER REGULATION? 157
PHILIP BOOTH INTRODUCTION 157 PUBLIC CHOICE ECONOMICS 159 INSIGHTS
FROM AUSTRIAN ECONOMICS ~~~ 161 SPECIFIC REGULATION TO ADDRESS SPECIFIC
PROBLEMS 162 LESSONS FROM PART ONE 164 NEW APPROACHES TO UK BANK
REGULATION 166 COMPLEMENTARY POLICY CHANGES 16 7 CONCLUSION 169
REFERENCES 169 15 THOUGHTFUL REGULATION 171 GEOFFREY WOOD INTRODUCTION
171 THE REGULATION OF ALL BANKS 171 THE REGULATION OF LARGER BANKS 173
16 THE FUTURE OF FINANCIAL SERVICES REGULATION 1 77 JOHN KAY THE
DIFFICULTIES OF DISCRETIONARY REGULATION 17 7 THE CASINO AND THE UTILITY
178 THE IMPOSSIBILITY AND UNDESIRABILITY OF REGULATING THE CASINO 179
THE PROTECTION OF RETAIL CUSTOMERS 180 PREVENTING THE CASINO FROM
DESTROYING THE UTILITY 181 17 THE GLOBAL FINANCIAL CRISIS: INCENTIVE
STRUCTURES AND IMPLICATIONS FOR REGULATION 183 DAVID T. LLEWELLYN CAUSES
OF THE CRISIS: INCENTIVE STRUCTURES 183 INCENTIVE STRUCTURES IN THE
REGULATORY REGIME 186 HOW REGULATORS CAN CREATE PERVERSE INCENTIVES 187
REGULATORS AND THE MONITORING OF INCENTIVES 188 INCENTIVES AND
INTERVENTION 189 THE ROLE OF MARKET DISCIPLINE 192 CONCLUSION 194
REFERENCES : 195 ABOUT THE IEA 198
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| isbn | 9780255366359 |
| language | English |
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| physical | 199 S. |
| publishDate | 2009 |
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| series2 | Hobart paperback |
| spelling | Verdict on the crash causes and policy implications ed. by Philip Booth with contributions from James Alexander ... London Inst. of Economic Affairs 2009 199 S. txt rdacontent n rdamedia nc rdacarrier Hobart paperback 37 Financiële crises gtt Bank Geschichte Politik Bank failures History 21st century Banking law Banks and banking Government policy Financial crises History 21st century Finanzkrise (DE-588)7635855-0 gnd rswk-swf Finanzkrise (DE-588)7635855-0 s DE-604 Booth, P. 1964- Sonstige (DE-588)129489050 oth Alexander, James Sonstige oth GBV Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017755151&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Verdict on the crash causes and policy implications Financiële crises gtt Bank Geschichte Politik Bank failures History 21st century Banking law Banks and banking Government policy Financial crises History 21st century Finanzkrise (DE-588)7635855-0 gnd |
| subject_GND | (DE-588)7635855-0 |
| title | Verdict on the crash causes and policy implications |
| title_auth | Verdict on the crash causes and policy implications |
| title_exact_search | Verdict on the crash causes and policy implications |
| title_full | Verdict on the crash causes and policy implications ed. by Philip Booth with contributions from James Alexander ... |
| title_fullStr | Verdict on the crash causes and policy implications ed. by Philip Booth with contributions from James Alexander ... |
| title_full_unstemmed | Verdict on the crash causes and policy implications ed. by Philip Booth with contributions from James Alexander ... |
| title_short | Verdict on the crash |
| title_sort | verdict on the crash causes and policy implications |
| title_sub | causes and policy implications |
| topic | Financiële crises gtt Bank Geschichte Politik Bank failures History 21st century Banking law Banks and banking Government policy Financial crises History 21st century Finanzkrise (DE-588)7635855-0 gnd |
| topic_facet | Financiële crises Bank Geschichte Politik Bank failures History 21st century Banking law Banks and banking Government policy Financial crises History 21st century Finanzkrise |
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