Chapter

Regulation

Youssef Cassis

in Crises and Opportunities

Published in print April 2011 | ISBN: 9780199600861
Published online May 2011 | e-ISBN: 9780191724930 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199600861.003.0006
Regulation

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The demand if not the need for regulation is at its highest during and especially immediately after a severe financial crisis. This is when the opportunity for real change, as opposed to an accommodation of the existing order, presents itself. This chapter first looks at the perception and understanding of the major financial crises, on which the degree of intensity of the need for change ultimately depends. It then turns to the question of the regulation, or absence of regulation, of financial innovations, especially those associated with a major crisis. Finally, it considers how the opportunities for improving the existing regulatory framework have actually been seized.

Keywords: financial crisis; financial regulation; governance; financial institutions; financial innovation

Chapter.  10087 words. 

Subjects: Financial Institutions and Services

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