The Political Economy of Financial Regulation Policies Following the Global Crisis

Hale Balseven
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Hale Balseven: Department of Public Finance, Faculty of Economics and Administrative Science, Akdeniz University, Antalya, Turkey

International Journal of Economics and Financial Issues, 2016, vol. 6, issue 2, 607-616

Abstract: This paper analyses the efficiency of financial regulation reforms that are being supported in a variety of theoretical approaches after the 2007/2008 global crisis. The main challenges that prevent the efficiency of the reforms are; (i) Maintaining the Basel approach that is argued to have led to the financial crisis, (ii) its limited content, (iii) its lack of global and national financial infrastructure, (iv) not being designed in a framework that comprises the macro policies. Due to the reasons mentioned above, this paper argues that the regulation policy can neither fulfill its stability role nor its distributive role and that in this way, it restructures forthcoming crisis, not the financial sector. In order to prevent crises, a critical approach is required on the mode of regulation of the economy and a reorganization of capitalism is necessary on a larger scale

Keywords: Government Policy and Regulation; Financial Crises; Crisis Management (search for similar items in EconPapers)
JEL-codes: G01 G18 H12 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ1:2016-02-33

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