IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-0-230-35420-3_13.html
   My bibliography  Save this book chapter

Epilogue

In: Fighting Financial Fires

Author

Listed:
  • Onno Beaufort Wijnholds

Abstract

The financial world is a dangerous place, and has become more so since the mid-1990s. One emerging country crisis followed another, culminating in a near-meltdown in advanced countries after 2007. A complete catastrophe was only averted by the resolute action of central banks, treasuries, and the IMF. Has the shock of this narrow escape been sufficient to jolt the major players in the global financial system to adjust their behavior so drastically that systemic crises will be a thing of the past? Surely not. But much will already have been gained if the frequency and depth of financial firestorms can be reduced. What has become abundantly clear is that financial markets cannot be left largely to their own devices. Both the rational expectations and the efficient market theories, the underpinnings of the light-touch approach to regulation, have been found wanting.1 The challenge for policymakers is to fix what is broken and prevent future conflagrations as much as possible, while avoiding unduly stifling the operation of financial markets.

Suggested Citation

  • Onno Beaufort Wijnholds, 2011. "Epilogue," Palgrave Macmillan Books, in: Fighting Financial Fires, pages 190-191, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-35420-3_13
    DOI: 10.1057/9780230354203_13
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    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:pal:palchp:978-0-230-35420-3_13. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    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.