Crash and Beyond: Causes and Consequences of the Global Financial Crisis by Andrew FarlowCrash and Beyond: Causes and Consequences of the Global Financial Crisis by Andrew Farlow

Crash and Beyond: Causes and Consequences of the Global Financial Crisis

byAndrew Farlow

Hardcover | April 15, 2013

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In 2008 the world was plunged into financial and economic crisis. This book explores the multiple roots of the crisis, including the build-up of global economic imbalances, the explosion in the use of novel financial instruments, the mismanagement of risk, and the specific roles played byhousing and debt. It reviews the evidence that, on the eve of the crisis, all was not well and that many policy makers and finance industry leaders ignored the dangers.The book examines in depth the measures taken to rescue the financial system and to stabilise the global economy. It strives to be fair in judgement, bearing in mind what policy makers knew at the time and the fast-changing nature of the problems they faced. It pays particular attention to theshort-term impacts and longer-term consequences of the measures taken, and investigates why some approaches were favoured over others, who will ultimately bear the costs, what political constraints shaped outcomes, and to what degree new risks were created and problems only delayed. The bookdescribes the many difficulties that lie ahead when rescue measures - such as quantitative easing, large government deficits, and bank rescue schemes - are unwound. It explores the continuing challenges of achieving a more balanced global economy, the often painful balance-sheet adjustments thatwill need to be made in both the private and the public sectors, the options for financial reform, and the hazards that financial bubbles will continue to pose.The book's arguments take on added authority given that the author had identified, and called attention to, key features of the crisis before it unfolded. It is a very timely analysis of how policy makers arrived where they are now and of the many hurdles that still lie ahead. It provides a livelyand accessible account that will appeal to a wide audience and contribute to an informed public debate about the lessons to be learnt and about future policy options.
Andrew Farlow is Research Fellow in Economics at Oriel College, University of Oxford. Educated in economics at the University of Cambridge and the University of Oxford, he currently works in a range of areas of financial economics, including financial bubbles and instability, and global health financing. He has provided advice to a wi...
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Title:Crash and Beyond: Causes and Consequences of the Global Financial CrisisFormat:HardcoverDimensions:256 pages, 9.21 × 6.14 × 0 inPublished:April 15, 2013Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:019957801X

ISBN - 13:9780199578016

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Table of Contents

The Roots of the Crisis1. The Growth of Global Economic Imbalances2. Housing and Mortgage Market Excesses3. Developments in the Global Financial System4. The Crisis UnfoldsThe Rescue5. Principles of Financial Rescue and Prior Lessons6. An Assessment of Rescue Efforts, 2007-2010The Future7. The Immediate Economic Aftermath and the Long-Term Fiscal Consequences8. Regulatory Reform and Long-Term Stability9. Lessons for Monetary and Central Bank PolicyReflections10. Conclusion