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Bibliography
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Latest Addtions - Click here for recently published works on financial regulation
9th March 2010 - Regulation in India - Click Here to View the Annotated Bibliography
Irrational Exuberance
by Robert J. Shiller - Princeton University
2000
The book puts forth several arguments demonstrating how the stock markets were overvalued at the time.
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Financial Regulation and Supervision in EU Countries
by Enrico Maria Cervellati - OUP
2003
This work provides an analysis of the different systems of financial regulation and supervision in EU Countries. In particular it analyses the cases of France, Germany, Italy, Spain and the U.K on the regulation and supervision of the banking sectors, but also with reference to insurance companies and the securities market
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The Misbehaviour of Markets
by Benoit Mandelbrot - Springer Netherlands
2004
The book focuses on financial markets. The book is divided into 3 sections: (i) the past, (ii) the present and (iii) the future of our knowledge of the behaviour of financial markets.
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The Black Swan
by Nassim Nicholas Taleb
2007
The book talks about the fact that extreme events are more likely than we think. Taleb calls these "Black Swans" after the one-time European certainty, based on northern hemisphere experience, that all swans were white. Among the many examples he discusses are the start of World War I, the sales of the Harry Potter novels, and a turkey who spends a thousand days being well fed before being killed on the thousand-and-first day.
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Global Financial Regulation: The Essential Guide
by Howard Davies and David Green - Polity
2008
A highly readable beginners’ overview of the global financial regulatory framework and infrastructure.
Click here for more information
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‘The Future of Financial Regulation’ in World Economics vol. 9 no. 1
by Howard Davies
2008
A paper written by the former chairman of the FSA in the early days of the financial crisis.
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The Origin of Financial Crises: Central banks, credit bubbles and the efficient market fallacy
by George Cooper - Harriman House Publishing
2008
A compelling and interesting take on the reasons for the development of the financial crisis, and asset price bubbles in general. Cooper takes an approach which is both theoretical and practical (and easy to understand) which borrows from the Minsky.
Amazon UK - The Origin of Financial Crises
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Learning from the financial crisis
by Sir John Gieve
2008
This speech highlights the fact that the crisis is a truly global event because its roots lie in unbalanced global growth.
http://www.bis.org/review/r081126d.pdf
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Banking on Basel: The Future of International Financial Regulation
by Daniel Tarullo - Peterson Institute for International Economics
2008
A thorough – but readable – analysis and critique of the entire Basel II framework.
Amazon UK - Banking on Basel
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Containing systemic risk: the road to reform
by Counterparty Risk Management Policy Group III
2008
The report covers various core precepts of mitigating risks, makes recommendations and lays down an implementation plan for 2009.
http://www.crmpolicygroup.org/docs/CRMPG-III.pdf
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Contested international agreements and domestic institutions: The case of Basel II
by Dr. Andrew Walter
2009
The article discusses the factors determine how domestic implementation of Basel II proceeds
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Why banks failed the stress test
by Andrew G Haldane
2009
This speech diagnoses some of the market failures in stress testing practises highlighted by the crisis and also suggests some practical ways in which stress testing might deliver answers which may possibly be correct.
http://www.bankofengland.co.uk/publications/speeches/2009/speech374.pdf
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Financial intermediaries, financial stabilities and monetary policy
by Tobias Adrian and Hyun Song Shin
2009
The paper presents empirical results on the real impact of broker-dealer balance sheet changes, the determinants of balance sheet changes, and how US monetary policy has reacted to balance sheet changes, concluded with some implications for the conduct of monetary policy.
http://www.kc.frb.org/publicat/sympos/2008/Shin.03.12.09.pdf
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Emerging contours of financial regulation and challenges and dynamics
by Dr. Rakesh Mohan
2009
A broad overview of the global developments which contributed to the current financial crisis also analysing the proposals for reforming the regulatory framework as well as implementing the regulatory proposals.
http://www.bis.org/review/r090615c.pdf?noframes=1
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The regulatory response to the financial crisis
by Charles A.E Goodhart
2009
This book describes how the crisis exposed regulatory failings, drawing largely on UK experience, and suggests remedies.
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Fixing Global Finance
by Martin Wolf - Yale University Press
2009
A journalistic – but not simplistic – analysis of the causes of the financial crisis by the chief economics commentator at the Financial Times.
http://www.yalebooks.co.uk/display.asp?K=9780300142778
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The panic of 2007
by Gary B. Gorton
2009
The paper explains how subprime mortgages work, the link to CDOs and the inner workings of these vehicles. It examines the panic itself, the falling house prices, role of the ABX indices, the runs on the SIVs, the liquidity crisis and some exacerbating factors.
http://www.kc.frb.org/publicat/sympos/2008/Gorton.03.12.09.pdf
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The subprime turmoil: what’s old, what’s new and what’s next.
by Charles W. Calomiris
2009
The essay considers the origins of the subprime turmoil and the way the financial system has responded to it. In the light of the old and new components in both the origins and propagation of the subprime shocks, the essay concludes by considering the near-term future of financial and macro-economic performance, and the implication for monetary policy, regulatory policy, and the future of the structure of the financial services industry.
http://www.kc.frb.org/publicat/sympos/2008/Calomiris.03.12.09.pdf
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The role of liquidity in financial crisis
by Franklin Allen and Elena Carletti
2009
The article considers what liquidity actually is and how liquidity is created by banks, leading to a discussion of the theoretical framework for understanding liquidity provision.
http://www.kc.frb.org/publicat/sympos/2008/AllenandCarletti.03.12.09.pdf
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Optional Federal Chartering of Insurance: Rationale and Design of a Regulatory Structure
by Martin F. Grace and Hal S. Scott
2009
This article examines the case for optional federal charters focusing on the costs and benefits of regulation at the federal versus the state level and conclude that an optional federal chartering system dominates the status quo. Secondly the article examines the additional issues required to be addressed if we adopt an insurance OFC system.
http://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1175104_code16673.pdf?abstractid=1175104&mirid=1
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Rethinking capital regulation
by Anil K. Kashyap, Raghuram G. Rajan and Jeremy C. Stein
2009
The article analyses capital regulation with a particular focus on the limitation of the current system and develops specific capital-insurance proposal.
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FSA Discussion Paper 09/2
by The FSA
2009
The discussion paper sets out the FSA’s initial thinking on how the recommendations can be translated to practical policy proposals.
http://www.fsa.gov.uk/pubs/discussion/dp09_02.pdf
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Macro prudential regulation – the missing policy pillar
by By E Philip Davis and Dilruba Karim
2009
This article seeks to assess the need for a macro prudential policy pillar and the degree to which progress has been made in instituting one, viewed in the light of lessons learnt in the field of financial stability over the past decade.
http://www.euroframe.org/fileadmin/user_upload/euroframe/docs/2009/EUROF09_Davis.pdf
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Containing system-wide risks: some issues and challenges
by Nigel Jenkinson
2009
This speech sets out a number of high-level objectives that should help guide future research and analysis on the development and design of a framework to strengthen the regulation of system-wide liquidity risks.
http://www.bankofengland.co.uk/publications/speeches/2009/speech388.pdf
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Global Financial Stability Report
by IMF
2009
The Global Financial Stability Report assesses key risks facing the global financial system with a view to identifying those that represent systemic vulnerabilities. The report seeks to play a role in preventing crises by highlighting policies that may mitigate systemic risk.
http://www.imf.org/external/pubs/ft/gfsr/2009/01/pdf/text.pdf
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Fool’s Gold: How unrestrained greed corrupted a dream, shattered global markets and unleashed a catastrophe
by Gillian Tett - Little Brown
2009
The Financial Times journalist traces the roots of the crisis back to the invention of credit derivatives by a small team at JP Morgan.
The Independant review
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Bringing hedge funds into the regulatory mainstream
by Karel Lannoo - Centre for European Policy Studies
2009
European Capital Markets Institute commentary by Karel Lannoo considers the European Commission’s draft rules on hedge funds.
http://shop.ceps.be/downfree.php?item_id=1861
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