LESSONS FROM THE FINANCIAL CRISIS: THE INTERNATIONAL DIMENSION

Roland Vaubel

Economic Affairs, 2009, vol. 29, issue 3, 22-26

Abstract: The current financial crisis has arisen as a result of entrepreneurial and business error rather than because of inappropriate incentives within the private sector. However, government failure has exacerbated the problem. The case for responding to government failure by greater international co‐ordination of banking regulation is weak. The IMF is particularly ill‐suited for this job.

Date: 2009
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