Failure of the Dodd-Frank Act

Michael I.C. Nwogugu

Journal of Financial Crime, 2015, vol. 22, issue 4, 520-572

Abstract: Purpose - – This paper aims to explain the weaknesses and inconsistencies inherent in the Dodd-Frank Act of 2010 (USA). Design/methodology/approach - – The approach is entirely theoretical and multi-disciplinary (and relies on some third-party empirical research), and it consists of a literature review, critique and the development of theories which are applicable across countries. Findings - – The Dodd-Frank Act is inefficient and inadequate as a response to the global financial crisis. The Dodd-Frank Act has not resulted in significant economic growth and has increased transaction costs and compliance costs for both government agencies and financial services companies. Originality/value - – The author developed the theories introduced in the paper.

Keywords: Global financial crisis; Dodd-Frank Act; Financial regulation (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-11-2014-0053

DOI: 10.1108/JFC-11-2014-0053

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