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Table of contents

  1. Front Matter
    Pages i-xiv
  2. Introduction

    1. Miao Han
      Pages 1-10
  3. Theoretical Framework

  4. Case Studies

  5. Comparative Analysis

  6. Back Matter
    Pages 268-319

About this book

Introduction

The respective legal frameworks that control central banks are shaped by whether they are market oriented or government controlled. However such stark distinction between these two categories has been challenged in view of the varying styles of crisis management demonstrated by different central banks during the crisis. This book uses comparative analysis to investigate how the global financial crisis challenged the role played by central banks in maintaining financial stability. Focusing on four central banks including the US Federal Reserve System, the Bank of England, the Bank of Japan and the People's Bank of China, it illustrates the similarities between the banks prior to the crisis, and their similar policy responses in the wake of the crisis. It demonstrates how each operated with varying levels of independence while performing very differently and facing different tasks. The book identifies some central explanatory variables for this behavior, addressing the mismatch of similar risk management solutions and varying outcomes. Central Bank Regulation and The Financial Crisis: A Comparative Analysis explores the legal challenges within central bank regulation presented by the global financial crisis. It emphasizes the importance of, and the limitations involved in, legal order and argue that in spite of integration and globalization, significant differences exist in central banks' approaches to risk management and financial stability.

Keywords

bank central bank centrally planned economy China economy financial crisis global financial crisis Japan planned economy regulation stability planned economy regulation stability

Authors and affiliations

  • Miao Han
    • 1
  1. 1.Durham UniversityUK

Bibliographic information

  • DOI https://doi.org/10.1007/978-1-137-56308-8
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2016
  • Publisher Name Palgrave Macmillan, London
  • eBook Packages Economics and Finance
  • Print ISBN 978-1-349-55548-2
  • Online ISBN 978-1-137-56308-8
  • Buy this book on publisher's site