Regulation of Banks and Finance: Theory and Policy after the Credit Crisis

Hardcover | December 15, 2009

byCarlos M. Peláez, Carlos A. Peláez

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As the financial crisis engulfs the world economy, there is an ambitous agenda for regulatory reform. This book provides a comprehensive review of the analysis of finance, economics and the law and economics, illuminating past and current banking and financial regulation designed to prevent another credit/dollar crisis and global recession.

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As the financial crisis engulfs the world economy, there is an ambitous agenda for regulatory reform. This book provides a comprehensive review of the analysis of finance, economics and the law and economics, illuminating past and current banking and financial regulation designed to prevent another credit/dollar crisis and global reces...

CARLOS M. PELEZ received a PhD and BS, Phi Beta Kappa from Columbia University, City of New York, USA. He has published books, essays and articles worldwide, including International Financial Architecture, The Global Recession Risk, Globalization and the State: Volume I, Globalization and the State: Volume II and Financial Regulation ...

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Format:HardcoverDimensions:288 pages, 8.96 × 5.67 × 0.88 inPublished:December 15, 2009Publisher:Palgrave MacmillanLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:023023903X

ISBN - 13:9780230239036

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Extra Content

Table of Contents

List of Tables
List of Diagrams
List of Abbreviations
Acknowledgments
Introduction, Scope and Content
The Theory of Regulation and Finance
Introduction
The Public Interest View
The First Best
Monopoly
Externalities
Market Failure
The Private Interest View
Government Failure
The Economic Theory of Regulation
The Second Best
Applied Welfare Economics
Property Rights
The New Institutional Economics
Asymmetry of Information
The Modified Capture Theory
Finance, Efficiency and Growth
Summary
Functions and Regulation of Deposit Banks
Introduction
Regulation
Bank Functions
Microeconomics of Banking
Monitoring
Liquidity
Transformation Services
Capital Requirements
Bank Fragility
Empirical Analysis
International Capital Requirements
Deposit Insurance
Narrow Banking
Deregulation
Fair Valuation
Government Sponsored Enterprises
Summary
Deposit Bank Market Power and Central Banking
Introduction
Banking Competition
Market Structure
Entry
Market Power
Concentration and Stability
Central Banking
Introduction
The Transmission of Monetary Policy
Inflation Targeting
The Lucas Critique and Consistency
Summary
Investment Banking, Governance, Mergers and Compensation
Introduction
Market Structure
The Glass-Steagall Act
Underwriting
Loan Syndication
Governance
Incentive Compensation
Mergers and Acquisitions
Bank Mergers and Competition
Corporate Law
Antitakeover Defense
Summary
Securities Regulation
Introduction
Exit
Leveraged Buyouts
Rules and Principles
Regulation of New Issues
Insider Trading
The Decision of Going Public
Sarbanes-Oxley
Listing
Summary
The Credit/Dollar Crisis and Recession Regulation
Introduction
The Global Recession
The Great Depression
Banks and Money
Debt Deflation Theories
Financial Market Frictions
The Gold Standard
Nonmonetary Factors
Wages and Employment
Growth Theory and the New Deal
Origins of the Credit Crisis
Monetary and Fiscal Policy
Government Ownership and Control of Banks
Regulation
Summary
Conclusion
Notes