Governance of global financial markets : the law, the economics, the politics / / Emilios Avgouleas [[electronic resource]]

• Record Nr.: UNINA9910815149803321
• Autore: Avgouleas Emilios
• Pubbl/distr/stampa: Cambridge : , : Cambridge University Press, , 2012
• ISBN: 1-107-22471-3; 1-139-36550-9; 1-280-87791-X; 9786613719225; 1-139-37802-3; 1-139-01944-9; 1-139-37516-4; 1-139-37117-7; 1-139-37945-3; 1-139-37659-4
• Descrizione fisica: 1 online resource (xxii, 477 pages) : digital, PDF file(s)
• Collana: International corporate law and financial market regulation
• Disciplina: 343.03
• Soggetti: Financial institutions, International - Law and legislation; International finance - Law and legislation; Financial services industry - Law and legislation; Global Financial Crisis, 2008-2009 - Political aspects
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Title from publisher's bibliographic system (viewed on 05 Oct 2015).
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Financial markets and financial crises -- The causes of the Global Financial Crisis -- The evolution of global financial governance and development of International Financial Regulation -- The 'softness' of soft law and global financial governance -- Regulatory and supervisory reform : US, EU, BCBS -- Global reform of the 'too-big-to-fail' institution and the new resolution regimes in the US and the EU -- An evolutionary model for global financial governance.
• Sommario/riassunto: The recent financial crisis proved that pre-existing arrangements for the governance of global markets were flawed. With reform underway in the USA, the EU and elsewhere, Emilios Avgouleas explores some of the ; questions associated with building an effective governance system and analyses the evolution of existing structures. By critiquing the soft law structures dominating international financial regulation and examining the roles of financial innovation and the neo-liberal policies in the expansion of global financial markets, he offers a new epistemological reading of the causes of the global financial crisis. Requisite reforms leave serious gaps in cross-border supervision, in the resolution of global financial institutions and in the monitoring of risk originating in the shadow banking sector. To close these gaps and safeguard the stability of the international financial system, an evolutionary governance system is proposed that will also enhance the welfare role of global financial markets.