The 2007-08 financial crisis has posed substantial challenges for bankers, economists and regulators: was it preventable, and how can such crises be avoided in future? This book addresses these questions. The Financial Crisis and the Regulation of Finance includes a comprehensive overview of the crisis and reviews the theory and practice of regulation in the UK and worldwide. The contributors - all international experts on financial markets and regulation - provide perspectives and analysis on macro-prudential regulation, the regulation of financial firms, and the role of shareholders and disclosure. This rigorous book will be of great interest to all those with an interest in banking and finance including academics, professionals, bankers, regulators, advisors and civil servants. Students on banking and finance courses will also find this clear and compact resource invaluable. Contributors: P. Andrews, M. Balling, C. Borio, F. Bruni, F. Capie, G. Dennis, R.A. Eisenbeis, C. Goodhart, C.J. Green, D. Grimsey, S. Heffernan, R.J. Herring, G.G. Kaufman, M.K. Lewis, D.G. Mayes, A. Mullineux, E.J. Pentecost, R.H. Schmidt, T. Weyman-Jones, G. Wood

This book examines the extent to which spatial economic convergence has taken place in the European Union and analyses the effectiveness of regional policy. The authors examine the differing economic features of the European regions and provide an institutional background to regional policy at both the national and Union level. Theories of economic growth are discussed and assessed in terms of the relative performance of regional economies in Europe. The authors then analyse the extent to which economic convergence, for example in terms of income and employment, has materialized across regions using a variety of techniques including mean reversion and time varying parameter procedures. The analysis is both at the level of the entire EU area and at more disaggregate levels that look at specific regions of the Union and at specific sectors. The book offers an assessment of some of the key regional policy instruments used and pays particular attention to the role of infrastructure investment as a tool for enhancing regional growth. It also considers the extent to which some non-regional specific policies impact upon the development of regional economies and explores the implications of closer monetary ties between member states. This book will be of interest to academics and policymakers concerned with regional science, European studies and macroeconomics.

This highly topical book examines the development and future prospects for economic and monetary union in Europe. European Monetary Integration examines the background to economic and monetary union from a historical perspective that distinguishes between national and supranational currency areas, and an optimal currency area theory. The gradualist transition process is also considered. The authors, leading academics from five European countries, consider the principal economic policies to be followed in achieving economic and monetary union. The role of the European central banks and monetary policy is examined, along with fiscal policy in monetary union and the operation and policies of the labour markets. The authors discuss the economic relationships between the euro area and other European economies including the transition and accession economies of Eastern Europe.