Globalization and Systemic Risk
Edited by Douglas Evanoff,
David S Hoelscher and
George G Kaufman
in World Scientific Books from World Scientific Publishing Co. Pte. Ltd.
Abstract:
The impact of globalization of financial markets is a highly debated topic, particularly in recent months when the issue of globalization and contagion of financial distress has become a focus of intense policy debate. The papers in this volume provide an up-to-date overview of the key issues in this debate. While most of the contributions were prepared after the initial outbreak of the current global turmoil and financial crisis, they identify the relative strengths of the risk diversification and risk transmission processes and examine the empirical evidence to date. The book considers the relative roles of banks, nonbank financial institutions and capital markets in both risk diversification and risk transmission. It then evaluates the current status of crisis resolution in a global context, and speculates where to go from here in terms of understanding, resolution, prevention and public policy.
Keywords: Globalization; Banking; Financial Markets; Systemic Risk; Financial Crisis; Contagion (search for similar items in EconPapers)
Date: 2009
ISBN: 9789812833372
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Citations: View citations in EconPapers (2)
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https://www.worldscientific.com/worldscibooks/10.1142/6955 (text/html)
Ebook Access is available upon purchase
Chapters in this book:
- Ch 1 Through the Looking Glass: The Links between Financial Globalization and Systemic Risk , pp 3-10

- John Lipsky
- Ch 2 The Current Financial Crisis: Will Latin America Be Caught in the Web, Again? , pp 11-25

- Guillermo Calvo
- Ch 3 Remarks on Systemic Risk and the International Lender of Last Resort , pp 27-37

- Frederic Mishkin
- Ch 4 The Crisis of 2007: The Same Old Story, Only the Players Have Changed , pp 39-50

- Michael D. Bordo
- Ch 5 Financial Globalization and Stability , pp 53-83

- Falko Fecht, Hans-Peter Grüner, Philipp Hartmann and Marco Lo Duca
- Ch 6 Does Financial Integration Improve Countries' Growth Opportunities? , pp 85-95

- Gianni De Nicolò
- Ch 7 Financial Globalization in the Asian Region , pp 97-112

- Philip Lowe
- Ch 8 The Current State of Financial Globalization — Good News, and Bad , pp 113-117

- Gerard Caprio
- Ch 9 Incentive Conflict in Central Bank Responses to Sectoral Turmoil in Financial Hub Countries , pp 121-144

- Edward Kane
- Ch 10 Systemic Risk and Prudential Regulation in the Global Economy , pp 145-167

- Xavier Freixas
- Ch 11 The Broad Yen Carry Trade , pp 169-189

- Hyun Song Shin and Masazumi Hattori
- Ch 12 Systemic Risk in a Global Context: Comment on Freixas, Hattori and Shin, and Kane , pp 191-203

- Richard J. Herring
- Ch 13 Remarks on Globalization and Systemic Risk: Nonbank Financial Intermediaries , pp 207-216

- Julian Adams
- Ch 14 Globalization Duality and Nonbank Financial Intermediaries , pp 217-224

- Mohamed A. El-Erian
- Ch 15 Pension Plans and Systemic Risk , pp 225-229

- Dennis E. Logue
- Ch 16 International Integration, Common Exposure and Systemic Risk in the Banking Sector , pp 233-249

- Nicole Allenspach and Pierre Monnin
- Ch 17 The Systemic Risk Implications of Originate and Distribute , pp 251-273

- Andrew Haldane
- Ch 18 Quantitative Modeling of Systemic Risk in a Globalized Banking System: Methodological Challenges , pp 275-290

- Martin Summer
- Ch 19 Globalization and Systemic Risk , pp 291-296

- Grant Spencer
- Ch 20 The Sub-Prime Crisis and Systemic Risk: Evidence from US Securities Markets , pp 299-312

- Leonce Bargeron, Kenneth Lehn and Mehmet Yalin
- Ch 21 Systemic Risks in Our Global Marketplace , pp 313-330

- Chester S. Spatt
- Ch 22 What Can Central Bankers Learn from Hedge Fund Replication Strategies? , pp 331-347

- David A. Hsieh
- Ch 23 Comments on Session VI: Globalization and Systemic Risk — Capital Markets , pp 349-353

- Liliana Rojas-Suarez
- Ch 24 Global Crisis Management , pp 357-360

- John Lane
- Ch 25 EU Financial-Stability Framework: Analytical Benchmarks for Assessing Its Effectiveness , pp 361-378

- María J. Nieto and Garry Schinasi
- Ch 26 Crisis Resolution in a Global Context: Regulation and Supervision for Cross-Border Banking , pp 379-387

- Mattias Persson
- Ch 27 Crisis Resolution in a Global Context , pp 389-393

- Pascual O'Dogherty
- Ch 28 Speaking Points for Where to Go from Here? Policy Panel , pp 397-402

- Jaime Caruana
- Ch 29 The US Government's Approach to Financial Decisions , pp 403-407

- Kenneth W. Dam
- Ch 30 Globalization and Systemic Risk: Where to Go from Here — Policy Panel , pp 409-414

- William L. Rutledge
- Ch 31 Comments on Session VIII: Where to Go from Here — Policy Panel , pp 415-427

- Andrew Sheng
- Ch 32 Basel II, Regulation and the Sub-Prime “Crisis” , pp 429-436

- Michael W. Taylor
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