The Global Crisis: Fatal Decisions - Four Case Studies in Financial Regulation
Leo F. Goodstadt
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Leo F. Goodstadt: Hong Kong Institute for Monetary Research, Trinity College, University of Dublin, The University of Hong Kong
No 332009, Working Papers from Hong Kong Institute for Monetary Research
This paper uses four case studies to review the performance of the Anglo-American regulatory ¡¥culture¡¦. In the decade before the global financial crisis, American and British officials were almost identical in their analysis of and non-interventionist responses to identified threats from changing financial conditions in Asia; dependence of new financial products on the insurance industry; shortcomings of the rating agencies; and excesses in their property markets. They now acknowledge these past policy errors but continue to resist consumer protection and other reform initiatives.
Keywords: Asia; China; Derivatives; Insurance; Credit Ratings; Property; Consumer Protection (search for similar items in EconPapers)
Pages: 25 pages
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