Why Are There So Many Banking Crises? (eBook)

The Politics and Policy of Bank Regulation

Jean-Charles Rochet (Autor)

eBook Download: PDF

2009
320 Seiten
Princeton University Press (Verlag)
978-1-4008-2831-9 (ISBN)

Infos

Almost every country in the world has sophisticated systems to prevent banking crises. Yet such crises--and the massive financial and social damage they can cause--remain common throughout the world. Does deposit insurance encourage depositors and bankers to take excessive risks? Are banking regulations poorly designed? Or are banking regulators incompetent? Jean-Charles Rochet, one of the world's leading authorities on banking regulation, argues that the answer in each case is "e;no."e; In Why Are There So Many Banking Crises?, he makes the case that, although many banking crises are precipitated by financial deregulation and globalization, political interference often causes--and almost always exacerbates--banking crises. If, for example, political authorities are allowed to pressure banking regulators into bailing out banks that should be allowed to fail, then regulation will lack credibility and market discipline won't work. Only by insuring the independence of banking regulators, Rochet says, can market forces work and banking crises be prevented and minimized. In this important collection of essays, Rochet examines the causes of banking crises around the world in recent decades, focusing on the lender of last resort; prudential regulation and the management of risk; and solvency regulations. His proposals for reforms that could limit the frequency and severity of banking crises should interest a wide range of academic economists and those working for central and private banks and financial services authorities.

Autor

Jean-Charles Rochet is professor of mathematics and economics at the University of Toulouse and a visiting professor at the London School of Economics and Political Science. His books include (with Xavier Freixas) Microeconomics of Banking and (with Guillaume Plantin) When Insurers Go Bust (Princeton).

Produkt-Details

• Erscheint lt. Verlag: 9.2.2009
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung
• Themenwelt: Wirtschaft ► Allgemeines / Lexika
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Planung / Organisation
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
• Schlagworte: 1997 Asian financial crisis • algorithmic trading • Arbitrage • asset • Asset Management • Asset Substitution Problem • Bad Bank • Bank • Bank Capital • Bank examination • bank failure • bank holding company • Bank regulation • bank run • Bankruptcy • Basel II • Bond (finance) • Capital adequacy Ratio • Capital requirement • Central Bank • Commercial Bank • Coordination failure (economics) • Credit (finance) • Creditor • Credit rationing • credit risk • Currency Crisis • debt • Debt Issue • Debt Overhang • Debt Restructuring • Default (finance) • Deposit account • deposit insurance • Economic bubble • Economic Capital • economic interventionism • External Debt • Federal Deposit Insurance Corporation • Fedwire • Financial Crisis • Financial institution • Financial Market • Financial Services • Financial transaction • Foreign Exchange Risk • Fractional-reserve banking • Fraud • Government Debt • Insider Lending • Insolvency • Interbank • Interbank lending market • interest rate risk • International monetary systems • Investment • Investor • Journal of Banking and Finance • Journal of Financial and Quantitative Analysis • Leverage (finance) • Liability (financial accounting) • line of credit • Liquidity Crisis • Liquidity preference (venture capital) • liquidity risk • Macroeconomics • macroprudential regulation • Margin (finance) • market discipline • market liquidity • Mark-to-market accounting • monetary authority • Monetary Control Act • monetary policy • Money changer • money market • Moral Hazard • Overdraft • Payment • Payment System • Provision (accounting) • Real versus nominal value (economics) • Recession • Relationship Banking • Risk Aversion • Savings and loan crisis • Security (finance) • Senior Debt • solvency • Stock market crash • subordinated debt • Supervisor • Swap (finance) • systemic risk • Tax • Too big to fail • Trade Credit • treasury bill • United States Treasury security • U.S. Bancorp
• ISBN-10: 1-4008-2831-7 / 1400828317
• ISBN-13: 978-1-4008-2831-9 / 9781400828319