controlling capital public and private regulation of financial markets

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Controlling Capital

Author : Nicholas Dorn
ISBN : 9781317374015
Genre : Business & Economics
File Size : 29. 98 MB
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Controlling Capital examines three pressing issues in financial market regulation: the contested status of public regulation, the emergence of ‘culture’ as a proposed modality of market governance, and the renewed ascendancy of private regulation. In the years immediately following the outbreak of crisis in financial markets, public regulation seemed almost to be attaining a position of command – the robustness and durability of which is explored here in respect of market conduct, European Union capital markets union, and US and EU competition policies. Subsequently there has been a softening of command and a return to public-private co-regulation, positioned within a narrative on culture. The potential and limits of culture as a regulatory resource are unpacked here in respect of occupational and organisational aspects, stakeholder connivance and wider political embeddedness. Lastly the book looks from both appreciative and critical perspectives at private regulation, through financial market associations, arbitration of disputes and, most controversially, market ‘policing’ by hedge funds. Bringing together a distinguished group of international experts, this book will be a key text for all those concerned with issues arising at the intersection of financial markets, law, culture and governance.

Just Financial Markets

Author : Lisa Herzog
ISBN : 9780198755661
Genre : Business & Economics
File Size : 22. 88 MB
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Financial markets raise not only questions of economic efficiency, but also questions of justice - especially in highly 'financialized' societies such as ours. This volume brings together leading scholars from political theory, law, and economics in order to discuss the relationship between financial markets and justice. This relationship is multi-facetted: it concerns not only the normative foundations of how we think about justice and financial markets, but alsothe legal framework within which financial markets take place, and which currently tends to favour certain players more than others. There are also questions of justice with regard to specificinstitutions such as central banks or rating agencies, and with regard to the representation of women and other minorities in financial markets. And finally, there is the question of why reform is so slow. This accesible volume brings together analyses and proposals for reform, inviting us to rethink the place and role of financial markets in our societies.

Varieties Of Capitalism

Author : Peter A. Hall
ISBN : 9780199247745
Genre : Business & Economics
File Size : 38. 57 MB
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What are the most fundamental differences among the political economies of the developed world? How do national institutional differences condition economic performance, public policy, and social well-being? Will they survive the pressures for convergence generated by globalization and technological change? These have long been central questions in comparative political economy. This book provides a new and coherent set of answers to them. Building on the new economics of organization, the authors develop an important new theory about which differences among national political economies are most significant for economic policy and performance. Drawing on a distinction between 'liberal' and 'coordinated' market economies, they argue that there is more than one path to economic success. Nations need not converge to a single Anglo-American model. They develop a new theory of 'comparative institutionaladvantage' that transforms our understanding of international trade, offersnew explanations for the response of firms and nations to the challenges of globalization, and provides a new theory of national interest to explain the conduct of nations in international relations. The analysis brings the firm back into the centre of comparative political economy. It provides new perspectives on economic and social policy-making that illuminate the role of business in the development of the welfare state and the dilemmas facing those who make economic policy in the contemporary world. Emphasizing the 'institutional complementarities' that link labour relations, corporate finance, and national legal systems, the authors bring interdisciplinary perspectives to bear on issues of strategic management, economic performance, and institutional change. This pathbreaking work sets new agendas in the study of comparative political economy. As such, it will be of value to academics and graduate students in economics, business, and political science, as well as tomany others with interests in international relations, social policy-making, and the law.

The Fundamental Principles Of Financial Regulation

Author : Markus Konrad Brunnermeier
ISBN : 0955700973
Genre : Business & Economics
File Size : 23. 20 MB
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"Today's financial regulatory systems assume that regulations which make individual banks safe also make the financial system safe. The eleventh Geneva Report on the World Economy shows that this thinking is flawed. Actions that banks take to make themselves safer can - in times of crisis - undermine the system's stability. The Report argues for a different approach."--P. xvi.

Can Financial Markets Be Controlled

Author : Howard Davies
ISBN : 9780745688329
Genre : Political Science
File Size : 77. 56 MB
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The Global Financial Crisis overturned decades of received wisdom on how financial markets work, and how best to keep them in check. Since then a wave of reform and re-regulation has crashed over banks and markets. Financial firms are regulated as never before. But have these measures been successful, and do they go far enough? In this smart new polemic, former central banker and financial regulator, Howard Davies, responds with a resounding ‘no’. The problems at the heart of the financial crisis remain. There is still no effective co-ordination of international monetary policy. The financial sector is still too big and, far from protecting the economy and the tax payer, recent government legislation is exposing both to even greater risk. To address these key challenges, Davies offers a radical alternative manifesto of reforms to restore market discipline and create a safer economic future for us all.

Banking Regulation In China

Author : W. He
ISBN : 9781137367556
Genre : Political Science
File Size : 38. 90 MB
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Banking Regulation in China provides an in-depth analysis of the country's contemporary banking regulatory system, focusing on regulation in practice. By drawing on public and private interest theories relating to bank regulation, He argues that controlled development of the banking sector transformed China's banks into more market-oriented institutions and increased public sector growth. This work proves that bank regulation is the primary means through which the Chinese government achieves its political and economic objectives rather than using it as a vehicle for maintaining efficient financial markets.

The Role Of Law And Regulation In Sustaining Financial Markets

Author : Niels Philipsen
ISBN : 9781317750406
Genre : Business & Economics
File Size : 67. 34 MB
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This book explores the role of law and regulation in sustaining financial markets in both developed and developing countries, particularly the European Union, United States and China. The central argument of this book is that law matters for the operation of financial markets, which, in turn, significantly influences the performance of firms, industries, and economies. The Role of Law and Regulation in Sustaining Financial Markets is divided into four parts. Part one addresses the connection between law, financial development, and economic growth. Part two deals with the role of financial regulation, which can be used to correct market failures, such as negative externalities, information asymmetries, and monopolies. Part three focuses on the design, functioning, and performance of different financial instruments. Part four examines the topic of Corporate Social Responsibility. This book contributes to the ‘law and finance’ literature by studying certain conventional issues, such as the relationship between finance and economic growth, and the effects of regulatory quality on financial development, from new perspectives and/or with new evidence, data, and cases. It also explores novel topics, such as project finance contracts, insurance and climate change, the shadow banking system, that have been overlooked in current literature. This book is meaningful not only for the EU and the US, which have suffered considerably from the financial crisis of 2008, but also for China, which is struggling to build a sound institutional infrastructure to govern its increasingly complicated financial system. By comparing the regulatory philosophies and practices of the EU, the US and China, this book will help the reader to understand the diverse nature of the global ‘law and finance’ nexus and avoid succumbing to the myth of "one size fits all".

Financial System And Its Regulation In India

Author : Alok Pandey
ISBN : 9789339224271
Genre :
File Size : 76. 53 MB
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This book is about financial regulations pertaining to capital markets, banking sector, insurance sector, pension funds, commodity exchanges & markets, accounting standards in view of IFRS compliance and consumer financial protection. We are also providing summary of the recent recommendations of FSLRC and other key committees who have submitted their reports to financial regulators in recent years. The book discusses issues and challenges in existing and proposed regulations through research articles and views from academicians, senior government functionaries, financial economists, regulators, politicians, leaders from both public and private sector having experience in administering and managing existing financial regulations, institutions and markets. There are seventeen articles in this book. Each of them focusses on a particular regulatory aspect of the Indian financial system. The aim of this book is to contextualise discussions about financial regulation and supervision in India over the past two decades and especially after the initiation of financial liberalisation process in 1990s. Several systemic issues along with global financial crisis of 2007-2008 have brought issues of financial regulation to the forefront in India. We hope the reader would be benefitted and will be motivated to participate in the ongoing debate for improving regulatory framework of India’s financial system.

Global Capital And National Politics

Author : Timothy P. Kessler
ISBN : 0275965694
Genre : Business & Economics
File Size : 45. 66 MB
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Kessler provides a detailed case study of Mexican financial policy reform as well as a comparison of financial collapse in other emerging markets. He shows how political challenges can distort the economic liberalization process in developing countries and how those choices undermine the economic stability achieved by genuine reform.

Financial Market Regulation And Reforms In Emerging Markets

Author : Masahiro Kawai
ISBN : 0815704909
Genre : Business & Economics
File Size : 23. 90 MB
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The rapid spread and far-reaching impact of the global financial crisis have highlighted the need for strengthening financial systems in advanced economies and emerging markets. Emerging markets face particular challenges in developing their nascent financial systems and making them resilient to domestic and external shocks. Financial reforms are critical to these economies as they pursue programs of high and sustainable growth. In this timely volume Masahiro Kawai, Eswar Prasad, and their contributors offer a systematic overview of recent developments in—and the latest thinking about—regulatory frameworks in both advanced countries and emerging markets. Their analyses and observations clearly point out the challenges to improving regulation, efficiency of markets, and access to the fi nancial system. Policymakers and financial managers in emerging markets are struggling to learn from the crisis and will need to grapple with some key questions as they restructure and reform their financial markets: • What lessons does the global financial crisis of 2007–09 offer for the establishment of efficient and flexible regulatory structures? • How can policymakers develop broader financial markets while managing the associated risks? • How—or should—they make the formal financial system more accessible to more people? • How might they best contend with multinational financial institutions? This book is an important step in getting a better grasp of these issues and making progress toward solutions that strike a balance between promoting financial market development and efficiency on the one hand, and ensuring financial stability on the other.

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