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Unregulated Entities, Products, and Markets: Challenges for Monitoring and Regulation

Author

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  • Morgan, Peter

    (Asian Development Bank Institute)

Abstract

The implications for financial stability of lightly regulated and highly leveraged financial institutions such as hedge funds and private equity funds, together with innovative financial products such as derivatives and asset-backed securities, remain a subject of controversy, especially in the current global financial crisis, where issues of systemic risk have not only national, but regional and global implications. This policy brief examines hedge funds, private equity funds, and innovative financial products, particularly collateralized debt obligations and asset-backed securities, including their overall structure, their role in the development of the current global financial crisis, and what changes are needed in the global financial architecture related to these institutions and products to strengthen financial stability going forward.

Suggested Citation

  • Morgan, Peter, 2009. "Unregulated Entities, Products, and Markets: Challenges for Monitoring and Regulation," ADBI Policy Briefs 30, Asian Development Bank Institute.
    • Handle: RePEc:ris:adbipb:0030
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    File URL: http://www.adbi.org/research-policy-brief/2009/08/12/3260.unregulated.entities.products.markets/
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    Cited by:

    1. Morgan, Peter J. & Lamberte , Mario, 2012. "Strengthening Financial Infrastructure," ADBI Working Papers 345, Asian Development Bank Institute.
    2. David G. Mayes & Peter J. Morgan, 2012. "The Global Financial Crisis and its Implications for Financial Sector Reform and Regulation in Asia," Chapters, in: Masahiro Kawai & David G. Mayes & Peter Morgan (ed.), Implications of the Global Financial Crisis for Financial Reform and Regulation in Asia, chapter 1, Edward Elgar Publishing.

    More about this item

    Keywords

    hedge fund financial stability; financial crisis unregulated funds; unregulated financial products implications;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General

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