IDEAS home Printed from https://ideas.repec.org/a/oec/dafkad/5ksqdwv36stj.html
   My bibliography  Save this article

Lessons from the financial market turmoil: Challenges ahead for the financial industry and policy makers

Author

Listed:
  • Gert Wehinger

Abstract

This financial crisis, ending a period of search for yield and increased risktaking,has triggered various policy responses, ranging from more ad-hoc measures initially to more structured and co-ordinated financial sector rescue actions as the crisis evolved. Lessons drawn so far should help to devise longer-term, more encompassing and more consistent policies. Various reforms are being proposed by the financial industry as well as by official authorities and international standard-setting bodies, many of which arrive at similar conclusions regarding the causes of and remedies for the crisis. Shortcomings in risk management, including compensation schemes, governance structures, liquidity and counterparty risk, need to be addressed.

Suggested Citation

  • Gert Wehinger, 2009. "Lessons from the financial market turmoil: Challenges ahead for the financial industry and policy makers," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2008(2), pages 1-40.
    • Handle: RePEc:oec:dafkad:5ksqdwv36stj
    DOI: 10.1787/fmt-v2008-art11-en
    as

    Download full text from publisher

    File URL: https://doi.org/10.1787/fmt-v2008-art11-en
    Download Restriction: Full text available to READ online. PDF download available to OECD iLibrary subscribers.
    File URL: https://libkey.io/10.1787/fmt-v2008-art11-en?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Douglas Sutherland & Peter Hoeller & Balázs Égert & Oliver Röhn, 2010. "Counter-cyclical Economic Policy," OECD Economics Department Working Papers 760, OECD Publishing.
    2. Bleuel, Hans-H., 2009. "The German banking system and the global financial crisis: causes, developments and policy responses," Duesseldorf Working Papers in Applied Management and Economics 08, Duesseldorf University of Applied Sciences.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oec:dafkad:5ksqdwv36stj. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/oecddfr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.