The failure on the part of Banks to enforce rigorous self regulation has precipitated a deep and prolonged global recession. This book provides a comprehensive review of principles, institutions and experience of financial regulation, to help illustrate current regulatory proposals. INDICE: List of Tables - List of Diagrams - List of Abbreviations - Acknowledgments - Introduction, Scope and Content - PART I: GOVERNMENT INTERVENTION AND FINANCE - Introduction - The First Best of Efficiency and Satisfaction - The Theory of Second Best - The Public Interest View - Imperfect Information - Government Failure - Transactions Costs and Property Rights - The New Institutional Economics - The Economic Theory of Regulation - Rent-seeking and Public Choice - The View of Disclosure and Regulation - The Political Economy of the Regulatory State - Contrasts of Public and Private Interest Views - Applied Welfare Economics - Finance, Efficiency and Growth - Summary - Appendix: Security Prices and Cost/Benefit Analysis - PART II: BANK REGULATION - Introduction -Approaches to Bank and Financial Regulation - Banks Versus Finance - Prudential and Systemic Regulation - Functional and Structural Finance - The Law and Finance View - Bank Functions - Monitoring and Diversification - Liquidity Transformation - Housing Finance - Securitization and Credit-risk Transfer - Bank Capital Theory and Requirements - International Capital Requirements - DepositInsurance - Political Economy - Summary - PART III: BANK CONCENTRATION AND CENTRAL BANKS - Introduction - Banking Market Organization - Competition and Productivity - Restrictions on Markets - Bank Concentration - Central Banks - TheFederal Reserve System and US Regulators and Supervisors - The European Central Bank - The Bank of Japan - The Bank of England - General Principles of Central Banking - Central Banking in the United Kingdom - Monetary Policy, Income and Prices - Summary - PART IV: UNIVERSAL BANKING, GOVERNANCE AND COMPENSATION- Introduction - Universal and Specialized Banking - The Political Economy ofSecurities Legislation - Economic Analysis of Glass-Steagall - The Gramm-Leach-Bliley Financial Modernization Act - Hedge Funds - Corporate Governance - Remuneration - Corporate Law - Summary - PART V: REGULATION OF SECURITIES AND CAPITAL MARKETS - Introduction - Rules and Principles - The SEC and Self-regulatory Organizations - The Financial Services Authority - Proposals of Capital Market Regulators - The Sarbanes-Oxley Act of 2002 - The Law - Economic Evaluation - Corporate Governance and Performance - Gatekeepers - Regulation and the Choice of Exchange Listing - Summary - PART VI: REGULATION AND POLICY IN THE GLOBAL RECESSION - Introduction - The New Deal - What Caused the Credit Crisis and Global Recession? - The Instruments of Monetary Policy - The Troubled Assets Relief Program - Financial Stability Plan - Mortgage Modification - Fiscal Policy - Liquidity Guarantee - The Swedish Bank Workout - Regulation - Summary - Conclusion - Notes - Index
- ISBN: 978-0-230-23902-9
- Editorial: Palgrave Macmillan
- Encuadernacion: Cartoné
- Páginas: 224
- Fecha Publicación: 12/11/2009
- Nº Volúmenes: 1
- Idioma: Inglés