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The Failure of Financial Regulation

Why a Major Crisis Could Happen Again

  • Anil Hira
  • Norbert Gaillard
  • Theodore H. Cohn
Book

Part of the International Political Economy Series book series (IPES)

Table of contents

  1. Front Matter
    Pages i-xxi
  2. Anil Hira, Norbert Gaillard, Theodore H. Cohn
    Pages 1-35
  3. Norbert Gaillard, Richard J. Michalek
    Pages 111-151
  4. Anil Hira, Brian Murata, Shea Monson
    Pages 191-232
  5. Anil Hira, Norbert Gaillard, Theodore H. Cohn
    Pages 233-246
  6. Back Matter
    Pages 247-252

About this book

Introduction

“This publication could not be more timely. Little more than a decade after the global financial crisis of 2008, governments are once again loosening the reins over financial markets. The authors of this volume explain why that is a mistake and could invite yet another major crisis.”
—Benjamin Cohen, University of California, Santa Barbara, USA

“Leading political scientists from several generations here offer historical depth, as well as sensible suggestions about what reforms are needed now.”
John Kirton, University of Toronto, Canada, and Co-founder of the G7 Research Group

“A valuable antidote to complacency for policy-makers, scholars and students.”
—Timothy J. Sinclair, University of Warwick, UK

This book examines the long-term, previously underappreciated breakdowns in financial regulation that fed into the 2008 global financial crash. While most related literature focuses on short-term factors such as the housing bubble, low interest rates, the breakdown of credit rating services and the emergence of new financial instruments, the authors of this volume contend that the larger trends in finance which continue today are most relevant to understanding the crash. Their analysis focuses on regulatory capture, moral hazard and the reflexive challenges of regulatory intervention in order to demonstrate that financial regulation suffers from long-standing, unaddressed and fundamental weaknesses. 


Keywords

Financial Regulation The 2008 Global Financial Crisis Fiscal Stimulus Systematic Risk Globalisation The Federal Reserve The Securities and Exchange Commission Debt Credit Rating Agencies The Panama Papers Tax Evasion Money Laundering Tax Havens Liberal Capitalism Shadow Banking The Glass–Steagall legislation Offshore Finance Transfer Pricing

Editors and affiliations

  • Anil Hira
    • 1
  • Norbert Gaillard
    • 2
  • Theodore H. Cohn
    • 3
  1. 1.Department of Political ScienceSimon Fraser UniversityBurnaby, BCCanada
  2. 2.NG ConsultingParisFrance
  3. 3.Department of Political ScienceSimon Fraser UniversityBurnaby, BCCanada

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-030-05680-3
  • Copyright Information The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2019
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Political Science and International Studies
  • Print ISBN 978-3-030-05679-7
  • Online ISBN 978-3-030-05680-3
  • Series Print ISSN 2662-2483
  • Series Online ISSN 2662-2491
  • Buy this book on publisher's site