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Big Bang: new beginning or beginning of the end?

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  • Colin Mayer

Abstract

Thirty years ago, the 1986 Oxford Review of Economic Policy assessment of financial innovation foretold the events leading up to the financial crisis and the factors that lay behind it. Those same insights suggest significant deficiencies in the response to the financial crisis and a failure to identify the limits to, as well as requirements for, strengthened regulation. In particular, there is a need for institutional reforms that have received insufficient attention to date.

Suggested Citation

  • Colin Mayer, 2015. "Big Bang: new beginning or beginning of the end?," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 31(2), pages 186-198.
    • Handle: RePEc:oup:oxford:v:31:y:2015:i:2:p:186-198.
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    File URL: http://hdl.handle.net/10.1093/oxrep/grv016
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    Cited by:

    1. Christopher Allsopp & David Vines, 2015. "Monetary and fiscal policy in the Great Moderation and the Great Recession," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 31(2), pages 134-167.

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