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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

Abstract: 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
Date: 2009-11
New Economics Papers: this item is included in nep-his, nep-ias, nep-pke, nep-reg and nep-sea
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