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The Great Financial Crisis of 2007-2010 has had a major impact on
large cross-border banks, which are widely blamed for the start and
severity of the crisis. As a result, much public policy, both in
the United States and elsewhere, has been directed at making these
banks safer and less influential by reducing their size and
permissible powers through increased government regulation.At the
Federal Reserve Bank of Chicago's 18th annual International Banking
Conference, held in November 2015, the status of these large
cross-border banks was critically evaluated. In collaboration with
the World Bank, the conference held discussions on the current
regulatory landscape for large and internationally active financial
institutions; the impact of regulation on bank permissible
activities and international trade; improvements in risk
management; necessary repairs to the bank safety net; the
resolution of insolvent banks operating across national borders;
corporate governance for banks in the new environment; implications
for market and government discipline; and, progress in achieving
international cooperation.Contributors include international
policymakers, practitioners, researchers, and academics from more
than 30 countries. The papers from the conference are collected in
this volume.
The recent global financial crisis has caused massive upheavals
worldwide. The papers in this volume analyze whether financial
principles seem to have shifted in recent years, and what that may
mean for international financial markets and regulation. What
"broke" in the current crisis? Is there no "playbook" on how to
respond to systemic crises? What is the optimal role of the state
in dealing with crises? How should asset bubbles be addressed in
the future? Do we need a major overhaul of governance in the
industry? What means exist to address systemic crises? What reforms
are needed? These and related issues are discussed by an impressive
list of well-known scholars, policymakers and practitioners, with
an emphasis on the implications for public policy.
This two-volume collection brings together major contributions to
the study of finance and growth. It includes conceptual and
empirical papers that use a range of methodologies to discover the
connections between financial systems - including financial
contracts, markets, and intermediaries - and the functioning of the
economy - including economic growth, entrepreneurship,
technological innovation, poverty alleviation, the distribution of
income, and the structure and volatility of economies. It also
discusses contributions to the study of the legal, political,
institutional, social capital and policy determinants of financial
development. With an original introduction by the editors, this
collection is an important resource for students, academics and
practitioners. 48 articles, dating from 1979 to 2013 Contributors
include: D. Acemoglu, P. Aghion, T. Beck, S. Haber, R. King, R. La
Porta, V. Maksimovic, R. Rajan, A. Shleifer, P. Strahan, R.
Townsend, L. Zingales
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