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Wasting a crisis : why securities regulation fails /
This study argues that policy responses to financial crises are similar across time and place and are generally ineffective or counterproductive. Political actors, hoping to avoid blame for a financial crisis, create a 'market failure narrative' arguing that misbehaviour by securities mark...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Chicago ; London :
University of Chicago Press,
2015.
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| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This study argues that policy responses to financial crises are similar across time and place and are generally ineffective or counterproductive. Political actors, hoping to avoid blame for a financial crisis, create a 'market failure narrative' arguing that misbehaviour by securities market participants, rather than prior policy errors, was the primary cause of the crisis. Regulatory reforms are therefore designed to solve problems that are either non-existent or tangentially related to the crisis. The reforms often decrease competition and concentrate the market share of leading financial firms. |
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| Descripción Física: | 1 online resource : illustrations |
| Bibliografía: | Includes bibliographical references and index. |
| ISBN: | 9780226236650 022623665X |