The Foundations and Future of Financial Regulation

Governance for Responsibility

Author: Mads Andenas,Iris H-Y Chiu

Publisher: Routledge

ISBN: 1135043361

Category: Law

Page: 560

View: 7069

Financial regulation has entered into a new era, as many foundational economic theories and policies supporting the existing infrastructure have been and are being questioned following the financial crisis. Goodhart et al’s seminal monograph "Financial Regulation: Why, How and Where Now?" (Routledge:1998) took stock of the extent of financial innovation and the maturity of the financial services industry at that time, and mapped out a new regulatory roadmap. This book offers a timely exploration of the "Why, How and Where Now" of financial regulation in the aftermath of the crisis in order to map out the future trajectory of financial regulation in an age where financial stability is being emphasised as a key regulatory objective. The book is split into four sections: the objectives and regulatory landscape of financial regulation; the regulatory regime for investor protection; the regulatory regime for financial institutional safety and soundness; and macro-prudential regulation. The discussion ranges from theoretical and policy perspectives to comprehensive and critical consideration of financial regulation in the specifics. The focus of the book is on the substantive regulation of the UK and the EU, as critical examination is made of the unravelling and the future of financial regulation with comparative insights offered where relevant especially from the US. Running throughout the book is consideration of the relationship between financial regulation, financial stability and the responsibility of various actors in governance. This book offers an important contribution to continuing reflections on the role of financial regulation, market discipline and corporate responsibility in the financial sector, and upon the roles of regulatory authorities, markets and firms in ensuring the financial health and security of all in the future.

The Future of Financial Regulation

Author: Iain G MacNeil,Justin O'Brien

Publisher: Bloomsbury Publishing

ISBN: 1847315712

Category: Law

Page: 488

View: 7342

The Future of Financial Regulation is an edited collection of papers presented at a major conference at the University of Glasgow in spring 2009, co-sponsored by the Economic and Social Research Council World Economy and Finance Programme and the the Australian Research Council Governance Research Network. It draws together a variety of different perspectives on the international financial crisis which began in August 2007 and later turned into a more widespread economic crisis following the collapse of Lehman Brothers in the autumn of 2008. Spring 2009 was in many respects the nadir since valuations in financial markets had reached their low point and crisis management rather than regulatory reform was the main focus of attention. The conference and book were deliberately framed as an attempt to re-focus attention from the former to the latter. The first part of the book focuses on the context of the crisis, discussing the general characteristics of financial crises and the specific influences that were at work this time round. The second part focuses more specifically on regulatory techniques and practices implicated in the crisis, noting in particular an over-reliance on the capacity of regulators and financial institutions to manage risk and on the capacity of markets to self-correct. The third part focuses on the role of governance and ethics in the crisis and in particular the need for a common ethical framework to underpin governance practices and to provide greater clarity in the design of accountability mechanisms. The final part focuses on the trajectory of regulatory reform, noting the considerable potential for change as a result of the role of the state in the rescue and recuperation of the financial system and stressing the need for fundamental re-appraisal of business and regulatory models.

Financial Market Regulation and Reforms in Emerging Markets

Author: Masahiro Kawai,Eswar Prasad

Publisher: Brookings Institution Press

ISBN: 0815704895

Category: Business & Economics

Page: 423

View: 3679

"In the wake of the global financial crisis that began in 2008, offers a systematic overview of recent developments in regulatory frameworks in advanced and emerging-market countries, outlining challenges to improving regulation, markets, and access in developing economies"--Provided by publisher.

The Routledge Companion to Philanthropy

Author: Tobias Jung,Susan D. Phillips,Jenny Harrow

Publisher: Routledge

ISBN: 1317579704

Category: Business & Economics

Page: 532

View: 2803

Philanthropy – the use of private resources for public purposes – is undergoing a transformation, both in practice and as an emerging field of study. Expectations of what philanthropy can achieve have risen significantly in recent years, reflecting a substantial, but uneven, increase in global wealth and the rolling back of state services in anticipation that philanthropy will fill the void. In addition to this, experiments with entrepreneurial and venture philanthropy are producing novel intersections of the public, non-profit and private spheres, accompanied by new kinds of partnerships and hybrid organisational forms. The Routledge Companion to Philanthropy examines these changes and other challenges that philanthropists and philanthropic organisations face. With contributions from an international team of leading contemporary thinkers on philanthropy, this Companion provides an introduction to, and critical exploration of, philanthropy; discussing current theories, research and the diverse professional practices within the field from a variety of disciplinary perspectives. The Routledge Companion to Philanthropy is a rich and valuable resource for students, researchers, practitioners and policymakers working in or interested in philanthropy.

The Origins of Modern Financial Crime

Historical foundations and current problems in Britain

Author: Sarah Wilson

Publisher: Routledge

ISBN: 1136237720

Category: Law

Page: 270

View: 5833

The recent global financial crisis has been characterised as a turning point in the way we respond to financial crime. Focusing on this change and ‘crime in the commercial sphere’, this text considers the legal and economic dimensions of financial crime and its significance in societal consciousness in twenty-first century Britain. Considering how strongly criminal enforcement specifically features in identifying the post-crisis years as a ‘turning point’, it argues that nineteenth-century encounters with financial crime were transformative for contemporary British societal perceptions of ‘crime’ and its perpetrators, and have lasting resonance for legal responses and societal reactions today. The analysis in this text focuses primarily on how Victorian society perceived and responded to crime and its perpetrators, with its reactions to financial crime specifically couched within this. It is proposed that examining how financial misconduct became recognised as crime during Victorian times makes this an important contribution to nineteenth-century history. Beyond this, the analysis underlines that a historical perspective is essential for comprehending current issues raised by the ‘fight’ against financial crime, represented and analysed in law and criminology as matters of enormous intellectual and practical significance, even helping to illuminate the benefits and potential pitfalls which can be encountered in current moves for extending the reach of criminal liability for financial misconduct. Sarah Wilson’s text on this highly topical issue will be essential reading for criminologists, legal scholars and historians alike. It will also be of great interest to the general reader. The Origins of Modern Financial Crime was short-listed for the Wadsworth Prize 2015.

International Capital Markets

Systems in Transition

Author: John Eatwell,Lance Taylor

Publisher: Oxford University Press on Demand

ISBN: 9780195154986

Category: Business & Economics

Page: 484

View: 5624

Comprising 19 commissioned articles, this collection addresses the global issues of volatility in equity and foreign exchange markets and the regulatory scene in developed and emerging markets.

Behavioral Finance

Investors, Corporations, and Markets

Author: H. Kent Baker,John R. Nofsinger

Publisher: John Wiley & Sons

ISBN: 9780470769683

Category: Business & Economics

Page: 768

View: 3786

A definitive guide to the growing field of behavioral finance This reliable resource provides a comprehensive view of behavioral finance and its psychological foundations, as well as its applications to finance. Comprising contributed chapters written by distinguished authors from some of the most influential firms and universities in the world, Behavioral Finance provides a synthesis of the most essential elements of this discipline, including psychological concepts and behavioral biases, the behavioral aspects of asset pricing, asset allocation, and market prices, as well as investor behavior, corporate managerial behavior, and social influences. Uses a structured approach to put behavioral finance in perspective Relies on recent research findings to provide guidance through the maze of theories and concepts Discusses the impact of sub-optimal financial decisions on the efficiency of capital markets, personal wealth, and the performance of corporations Behavioral finance has quickly become part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.

Die Entwicklung der Technischen Analyse

Finanzprognosen von den babylonischen Tafeln bis zu den Bloomberg-Terminals

Author: Andrew W. Lo,Jasmina Hasanhodzic

Publisher: John Wiley & Sons

ISBN: 3527506101

Category: Technical analysis (Investment analysis)

Page: 249

View: 7994

Andrew W. Lo und Jasmina Hasanhodzic erzählen die faszinierende Geschichte der Technischen Analyse von dem alten Babylon bis heute. Sie zeigen, wo Technische Analysten versagten, wie sie erfolgreich waren und was all dies für die heutigen Wertpaperhändler und Investoren bedeutet.

Das Globalisierungs-Paradox

die Demokratie und die Zukunft der Weltwirtschaft

Author: Dani Rodrik

Publisher: C.H.Beck

ISBN: 9783406613517


Page: 415

View: 9517

Ein Plädoyer gegen Hyperglobalisierung und für eine gewisse demokratische Renationalisierung der Wirtschaftspolitik.

Modern Trends in Global Banking Development

Author: Viatcheslav V. Chiline

Publisher: Universal-Publishers

ISBN: 9781581121551

Category: Business & Economics

Page: 128

View: 4153

Unlike many other works in this area, this research is devoted to the micro issues of banking. There are many excellent texts that study the macroeconomics of banking, and the role of financial institutions in a monetary economy. This area [micro issues] of banking is important. Bank professionals require a thorough grounding in the micro foundations of banking, if they are to make important managerial decisions, or implement banking policies. What exactly will be the nature of the future of banking? These pages provide you with comprehensive insight into where banking is going. In order to provide a thorough understanding of the subject, this study begins by looking at the traditional theory of banking. A bank is a financial firm which offers loan and deposit products on the market. The intermediary role played by banks, another area of our interest, is the reason why banks exist in modern economies. The main objective of Chapter 2 is to provide an overview of bank structures and related issues in industrialised countries, developing economies and emerging markets in Eastern Europe. Chapter 2 also considers various stylised facts on contemporary banking. It reveals some large differences between countries in the way banks operate. It reviews various performance measures of banks, and considers the results of several investigations of bank performance. The remaining part of the research analyses modern trends of Global banking development. During the course of study the following trends were recognised as major and the most noteworthy ones: Consolidation, Globalisation, Development of Information Technology, Risk Management, Competition, The Euro, Regulation, Development in Asset Management.

Fannie Mae and Freddie Mac

Turning the American Dream into a Nightmare

Author: Oonagh McDonald

Publisher: A&C Black

ISBN: 1780930046

Category: Business & Economics

Page: 496

View: 8628

This book examines the role of Fannie Mae, Freddie Mac and other key players in the American mortgage market, in precipitating the current global financial crisis. From President Clinton's announcement of the 'National Home Ownership Strategy' in 1995 to its collapse in 2008, this book deftly explains the aims and consequences of extending mortgage lending to people who could not afford home ownership. Bankers, investment banks, rating agencies and derivatives have all been awarded their share of the blame, while politicians, regulators and government agencies have successfully avoided theirs. Fannie Mae and Freddie Mac have been implicated, but the true story of their marriage made in hell has never been told.

Dieses Mal ist alles anders

Acht Jahrhunderte Finanzkrisen

Author: Carmen Reinhart,Reinhart Carmen

Publisher: FinanzBuch Verlag

ISBN: 3862484386

Category: Political Science

Page: 592

View: 1645

Dieses Mal ist alles anders. Die derzeitige Krise ist überhaupt nicht vergleichbar mit vergangenen Situationen – darin sind sich die Experten einig, wann immer ein Wirtschaftssystem oder ein Staat zusammenbricht. Carmen Reinhart und Kenneth Rogoff haben die Crashs der letzten 800 Jahre analysiert. Ihr erstaunliches Ergebnis: In Wahrheit sind es doch immer die gleichen Fehler, die zum Kollaps geführt haben.

Introduction to Health Care Services: Foundations and Challenges

Author: Bernard J. Healey,Tina Marie Evans

Publisher: John Wiley & Sons

ISBN: 1118450140

Category: Medical

Page: 480

View: 3368

A comprehensive guide to the structure, synergy, and challengesin U.S. health care delivery Introduction to Health Care Services: Foundations andChallenges offers new insights into the most important sectorsof the United States' health care industry and the many challengesthe future holds. Designed to provide a comprehensive andup-to-date understanding of the system, this textbook covers themany facets of health care delivery and details the interaction ofhealth, environments, organizations, populations, and the healthprofessions. Written by authors with decades of experience teachingand working in health care administration and management, the bookexamines the current state and changing face of health caredelivery in the United States. Each chapter includes learningobjectives and discussion questions that help guide and engagedeeper consideration of the issues at hand, providing acomprehensive approach for students. Cases studies demonstratinginnovations in the delivery of health care services are alsopresented. Health care administration requires a thorough understanding ofthe multiple systems that define and shape the delivery of healthcare in the United States. At the same time, it is important forstudents to gain an appreciation of the dilemma confronting policymakers, providers, and patients in the struggle to balance cost,quality, and access. Introduction to Health Care Services:Foundations and Challenges is an in-depth examination of themajor health care issues and policy changes that have had an impacton the U.S. health care delivery system. Includes information on U.S. health care delivery, from care tocost, and the forces of change Focuses on major industry players, including providers,insurers, and facilities Highlights challenges facing health care delivery in thefuture, including physician shortages, quality care, and thechronic disease epidemic The U.S. health care system is undergoing major reform, and theeffects will ripple across every sector of the industry.Introduction to Health Care Services: Foundations andChallenges gives students a complete introduction tounderstanding the issues and ramifications.

The Stability of Islamic Finance

Creating a Resilient Financial Environment for a Secure Future

Author: Hossein Askari,Zamir Iqbal,Noureddine Krichenne,Abbas Mirakhor

Publisher: John Wiley & Sons

ISBN: 1118178939

Category: Business & Economics

Page: 256

View: 3402

The Stability of Islamic Finance main focus is on thequestion of the sources of financial instability which seemsinherent in the conventional system. As a core component of thisfocus, the book will consider episodes of turbulence andinstability in a historical context recalling the occurrence ofsuch events from mid-19th century to the present. It will presentvarious theoretical explanations along with solutions andalternative financial systems that avoid instability provided byvarious scholars dating back to mid-19th century to present. The book then will present and discuss the architecture of anIslamic financial system and show that at its core, this systemshares many characteristics of an stable financial system proposedby Western scholars throughout history to avoid the inherentinstability of the present dominant system. Particular emphasiswill be placed on the present financial crisis and its causes aswell the financial crisis of the 1997 in Southeast Asia, Russia,and Latin America relating these episodes to the fundamentalfeatures of the dominant system. The debt crisis of the low incomecountries will also be part of this discussion. It will then arguethat these crises could be mitigated under an Islamic system or anyother system with similar architecture.

Money and the Market

Essays on Free Banking

Author: Kevin Dowd

Publisher: Psychology Press

ISBN: 9780415242127

Category: Business & Economics

Page: 226

View: 8631

Kevin Dowd asserts that state intervention into financial and monetary systems has failed, and that we would be better off if financial markets were left to regulate themselves. This collection will appeal to students, researchers and policy makers in the monetary and financial area.

The Rise and Fall of the US Mortgage and Credit Markets

A Comprehensive Analysis of the Market Meltdown

Author: James Barth

Publisher: John Wiley & Sons

ISBN: 0470477245

Category: Business & Economics

Page: 526

View: 7017

The mortgage meltdown: what went wrong and how do we fix it? Owning a home can bestow a sense of security and independence.But today, in a cruel twist, many Americans now regard their homesas a source of worry and dashed expectations. How did everything gohaywire? And what can we do about it now? In The Rise and Fall of the U.S. Mortgage and CreditMarkets, renowned finance expert James Barth offers acomprehensive examination of the mortgage meltdown. Together with ateam of economists at the Milken Institute, he explores the shockwaves that have rippled through the entire financial sector and thereal economy. Deploying an incredibly detailed and extensive set ofdata, the book offers in-depth analysis of the mortgage meltdownand the resulting worldwide financial crisis. This authoritativevolume explores what went wrong in every critical area, includingsecuritization, loan origination practices, regulation andsupervision, Fannie Mae and Freddie Mac, leverage and accountingpractices, and of course, the rating agencies. The authors explainthe steps the government has taken to address the crisis thus far,arguing that we have yet to address the larger issues. Offers a comprehensive examination of the mortgage marketmeltdown and its reverberations throughout the financial sector andthe real economy Explores several important issues that policymakers mustaddress in any future reshaping of financial marketregulations Addresses how we can begin to move forward and prevent similarcrises from shaking the foundations of our financial system The Rise and Fall of the U.S. Mortgage and Credit Marketsanalyzes the factors that should drive reform and explores theissues that policymakers must confront in any future reshaping offinancial market regulations.

National Health Service Landscape Review

Thirty-Third Report of Session 2010-12; Report, Together with Formal Minutes, Oral and Written Evidence

Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts

Publisher: The Stationery Office

ISBN: 9780215559258

Category: Health planning

Page: 72

View: 7584

This report examines the value for money risks and implications of the Health and Social Care Bill. The Bill proposes a new model for the NHS focusing on patient outcomes. The proposals are intended to transform the NHS in England into a highly devolved, market-based model in which local commissioners and providers of health services are freed from central control, with an increased say for local authorities, patients and the public. Whilst the reforms could complement the imperative of achieving £20 billion efficiency gains by 2014/15, the reorganisation presents an additional challenge for the NHS. The health reforms are still at an early stage and key questions have yet to be addressed. It is vital that the Department creates robust accountability structures so that Parliament and the public can properly follow the taxpayers' pound and hold those responsible to account. The Committee is concerned that the Department has not yet developed a high quality risk management protocol for either the commissioning or providing bodies. The Department acknowledges that some health trusts and some GP practices have some way to go to achieve foundation trust status or become commissioning consortia. The Department must have effective systems in place to deal with failure so that whatever happens, the interests of both patients and taxpayers are protected. This report provides an overview of aspects of the reforms where Parliament requires clarification and draws out a number of risks associated with the transition to the new model that need to be managed.

Five Minds for the Future

Author: Howard Gardner

Publisher: Harvard Business Press

ISBN: 1422147991

Category: Psychology

Page: 196

View: 1641

We live in a time of relentless change. The only thing that?s certain is that new challenges and opportunities will emerge that are virtually unimaginable today. How can we know which skills will be required to succeed? In Five Minds for the Future, bestselling author Howard Gardner shows how we will each need to master "five minds" that the fast-paced future will demand: · The disciplined mind, to learn at least one profession, as well as the major thinking (science, math, history, etc.) behind it · The synthesizing mind, to organize the massive amounts of information and communicate effectively to others · The creating mind, to revel in unasked questions - and uncover new phenomena and insightful apt answers · The respectful mind, to appreciate the differences between human beings - and understand and work with all persons · The ethical mind, to fulfill one's responsibilities as both a worker and a citizen Without these "minds," we risk being overwhelmed by information, unable to succeed in the workplace, and incapable of the judgment needed to thrive both personally and professionally. Complete with a substantial new introduction, Five Minds for the Future provides valuable tools for those looking ahead to the next generation of leaders - and for all of us striving to excel in a complex world. Howard Gardner—cited by Foreign Policy magazine as one of the one hundred most influential public intellectuals in the world, and a MacArthur Fellowship recipient—is the Hobbs Professor of Cognition and Education at the Harvard Graduate School of Education.