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regulatory responses to the financial crisis: an interim assessment

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  • Howard Davies

Abstract

The global financial crisis that started in 2007 exposed the failure of governments and legislative bodies to regulate the banking industry adequately at a national and global level. Post-crisis reforms and structural changes have ensued: the switch from the G7 to the G20 for example and an attempt to strengthen the centre of the international financial system. The EU now has to decide whether a fiscal and banking union is the logical next step to complete economic integration and to stave off future crises in the Eurozone. In the UK, the Bank of England has assumed greater responsibility for regulation. Whether such responses to this crisis will safeguard against future catastrophe is unknown, but there are already signs that the response so far will prove to be inadequate.

Suggested Citation

  • Howard Davies, 2012. "regulatory responses to the financial crisis: an interim assessment," The New Palgrave Dictionary of Economics,, Palgrave Macmillan.
    • Handle: RePEc:pal:dofeco:v:6:year:2012:doi:3879
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    Cited by:

    1. Christopher Mabey & Mervyn Conroy & Karen Blakeley & Sara Marco, 2017. "Having Burned the Straw Man of Christian Spiritual Leadership, what can We Learn from Jesus About Leading Ethically?," Journal of Business Ethics, Springer, vol. 145(4), pages 757-769, November.

    More about this item

    Keywords

    banking crises; bank regulation; financial policies; financial crisis; Financial Stability Forum; Bank of England; ECB;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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