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Reinventing financial regulation: a blueprint for overcoming systemic risk
Reinventing Financial Regulation offers an analysis of the fundamental flaws that plague the current system of financial regulation, one built around ideas of "risk-sensitivity" and "capital adequacy." Author Avinash Persaud argues that while some sensible reforms have been introduced, a fresh approach--centered on risk capacity--is required. When the entire regime is compromised, simply slapping bandages on each new wound will do nothing to cure the underlying disease. Reinventing Financial Regulation goes beyond an urgent call to fix our profoundly troubled and damaged financial markets. It is a blueprint for an effective financial regulation system that could very well save the future of finance. What would a well-regulated financial system look like? Until now, policymakers, financial experts, and leading academics have been content to avoid facing this question head-on. We have been offered piecemeal reforms that ultimately leave the global financial system exposed to different versions of the same risks that so recently brought it to its knees. The world economy literally cannot afford to dodge this question any longer. Persaud's goal to bring clarity and a powerful simplicity to the financial regulation process results in a systematic and apolitical framework for fixing the world's fractured financial industry and transforming its regulation--not just for today's financial climate, but once and for all.
Adam Tooze's Crashed: How a Decade of Financial Crises Changed the World
In: Contributions to political economy, Band 38, Heft 1, S. 74-81
ISSN: 1464-3588
Improving Resilience, Increasing Revenue: The Case for Modernising the UK's Stamp Duty on Shares
In: Intelligence Capital, 2017
SSRN
How Not to Regulate Insurance Markets: The Risks and Dangers of Solvency II
SSRN
Working paper
The locus of financial regulation: home versus host
In: International affairs, Band 86, Heft 3, S. 637-646
ISSN: 1468-2346
The locus of financial regulation: home versus host
In: International affairs, Band 86, Heft 3, S. 637-646
ISSN: 0020-5850
World Affairs Online
Ratings war?
In: Public policy research: PPR, Band 15, Heft 4, S. 187-191
ISSN: 1744-540X
Avinash Persaud argues that the proposed regulation of credit rating agencies will do more harm than good
Credit Derivatives, Insurance Companies and Liquidity Black Holes
In: The Geneva papers on risk and insurance - issues and practice, Band 29, Heft 2, S. 300-312
ISSN: 1468-0440
Liquidity black holes: And why modern financial regulation in developed countries is making short-term capital flows to developing countries even more volatile
Modern financial regulation has been about the spread of market-sensitive riskmanagement systems for banks, the spill-over of this approach to other financial institutions and the retreat of regulatory ambition. There is evidence that these trends are leading to a more fragile financial system, more prone to concentration and 'liquidity black holes'. The most glaring effects of these trends are felt in the pro-cyclicality and volatility of capital flows to risky markets. The root of the problem is that the liquidity of financial markets requires diversity, but all these trends are serving to reduce the diversity of behaviour of market participants.
BASE
The knowledge gap
In: Foreign affairs, Band 80, Heft 2, S. 107-117
ISSN: 0015-7120
World Affairs Online
The Age of Technology - The Knowledge Gap - To date, the Internet economy -- With its emphasis on knowledge and innovation -- Has widened the global income gap. Rich nations must help level the playing field in areas from trade to banking to intellectual-property laws. Poor nations, meanwhile, must ...
In: Foreign affairs, Band 80, Heft 2, S. 107-117
ISSN: 0015-7120
The Knowledge Gap
In: Foreign affairs: an American quarterly review, Band 80, Heft 2, S. 107
ISSN: 2327-7793
Remarks by Avinash Persaud
In: Proceedings of the annual meeting / American Society of International Law, Band 90, S. 169-172
ISSN: 2169-1118