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The global financial crisis, the EMU sovereign debt crisis and international financial regulation: lessons from a systematic literature review

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  • Meier, Samira
  • Rodriguez Gonzalez, Miguel
  • Kunze, Frederik

Abstract

To ensure the safety and soundness of the global financial system as well as individual financial institutions and to reduce systemic risk, numerous policy measures and regulatory reforms have been brought forward as a reaction to the Global Financial Crisis and the European Sovereign Debt Crisis. Simultaneously, numerous academic works have critically reviewed these developments. Therefore, based on a dataset of 455 papers, this article intends to structure the multitude of publications and provide a comprehensive overview of post-crisis regulatory research publications. Studies can be roughly divided into three overarching clusters: publications identifying causes of the crisis, articles focusing on policy and reform reactions, and literature investigating whether these reforms fit their purpose. A holistic and systematic review allows us to extract relevant recommendations and areas of action to prevent such a crisis in the future.

Suggested Citation

  • Meier, Samira & Rodriguez Gonzalez, Miguel & Kunze, Frederik, 2021. "The global financial crisis, the EMU sovereign debt crisis and international financial regulation: lessons from a systematic literature review," International Review of Law and Economics, Elsevier, vol. 65(C).
  • Handle: RePEc:eee:irlaec:v:65:y:2021:i:c:s0144818820301587
    DOI: 10.1016/j.irle.2020.105945
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    6. D’Avino, Carmela, 2023. "Counteracting offshore tax evasion: Evidence from the foreign account tax compliance act," International Review of Law and Economics, Elsevier, vol. 73(C).
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    More about this item

    Keywords

    EMU; Sovereign debt crisis; Global financial crisis; Financial regulation; Banking sector; Insurance industry; Financial markets; Policy reform;
    All these keywords.

    JEL classification:

    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law

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