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The Legacy, Causes and Relevance of Interwar Futures Market Regulation

  • Rasheed SaleuddinEmail author
Chapter
Part of the Palgrave Studies in the History of Finance book series (PSHF)

Abstract

This chapter concludes the study by (i) summarising the innovations in institutions and governance that took place in the interwar years, (ii) outlining what the private archival record demonstrated to be the key causes of said evolution, (iii) detailing the legacy of the interwar years and (iv) proposing a few possible applications of the findings here to the current debate concerning post-crisis financial regulation. That the regulatory regime during the 1920s and 1930s can be called polycentric and had varied influences—even if always centred around the US government—behoves policy-makers to include a role for both government and all market participants in regulatory conversations leading to any new legislation. Successful regulation leading to efficient financial markets is likely impossible without both government and markets.

Keywords

Polycentricity Dodd-Frank Global financial crisis Market regulation Enforced self-regulation 

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  1. 1.Centre for Endowment Asset ManagementUniversity of CambridgeCambridgeUK

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