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First Credit Market Turmoil Of The 21st Century The Implications For Public Policy
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Book Synopsis First Credit Market Turmoil Of The 21st Century, The: Implications For Public Policy by : Douglas D Evanoff
Download or read book First Credit Market Turmoil Of The 21st Century, The: Implications For Public Policy written by Douglas D Evanoff and published by World Scientific. This book was released on 2009-11-04 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the summer of 2007, credit markets in almost all industrial countries have been in substantial turmoil and this has become the focus of intense policy debates. The papers in this volume are contributed by the world's leading financial experts and constitute a thorough examination of the first credit market turmoil of the 21st Century. They provide an overview of the main causes, transmission mechanisms and economic implications of what by now has become a major systemic financial crisis. They assess the most important policy considerations and conclude about how to stabilize financial systems, attenuate repercussions on the real economy and shape future regulatory structures. The analyses, conclusions, and recommendations can be expected to influence both public and private policies to mitigate, if not prevent, such crises in the future.
Book Synopsis The Alternative Investment Fund Managers Directive by : Dirk Zetzsche
Download or read book The Alternative Investment Fund Managers Directive written by Dirk Zetzsche and published by Kluwer Law International B.V.. This book was released on 2020-09-17 with total page 1042 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the ten years since its coming into force, the Alternative Investment Fund Managers Directive (AIFMD), with almost EUR 7 trillion assets under management in its remit, has become an important piece of European regulation complementing the Undertakings for Collective Investment in Transferable Securities (UCITS) and the Markets in Financial Instruments (MiFI) frameworks. This third edition of the most comprehensive and in-depth analysis of the AIFMD and its related European investment fund legislation (including the European Venture Capital Fund Regulation, the European Social Entrepreneurship Fund Regulation, the European Long-Term Investment Fund Regulation and the European Money Market Fund Regulation among others) brings together fund industry experts, fund supervisors, consultants, lawyers and academics to discuss the content and system of the directive from every angle, including its relation not only to the UCITS and MiFI frameworks but also to pension funds, the Sustainable Finance Disclosure Regulation, the Securitization Regulation and the Cross Border Funds Distribution Directive and Regulation, as well as related pieces of tax regulation at the European level. Further, the third edition emphasizes the function of such factors in the financial services value chain as the following: the AIFMD’s approach to robo-advisors; digital asset funds; infrastructure investments in the context of real estate and sustainable investments; risk management; transparency; and impact on alternative investment strategies. Five country reports, focusing on the European Union’s five most important financial centres for alternative investment funds, deal with the potential interactions among the AIFMD and the relevant laws and regulations of France, Germany, Luxembourg, Ireland and The Netherlands. This thoroughly updated edition elaborates on potential difficulties encountered when applying the directive and provides potential solutions to the problems it raises. The book is sure to be warmly welcomed by fund lawyers and consultants, investors and their counsels, fund managers, depositaries, asset managers and administrators, as well as regulators and academics in the field.
Book Synopsis The Alternative Investment Fund Managers Directive by : Dirk A. Zetzsche
Download or read book The Alternative Investment Fund Managers Directive written by Dirk A. Zetzsche and published by Kluwer Law International B.V.. This book was released on 2015-09-14 with total page 948 pages. Available in PDF, EPUB and Kindle. Book excerpt: Apart from MiFID, the Alternative Investment Fund Managers Directive (AIFMD) may be the most important European asset management regulation of the early twenty-first century. In this in-depth analytical and critical discussion of the content and system of the directive, thirty-eight contributing authors – academics, lawyers, consultants, fund supervisors, and fund industry experts – examine the AIFMD from every angle. They cover structure, regulatory history, scope, appointment and authorization of the manager, the requirements for depositaries and prime brokers, rules on delegation, reporting requirements, transitional provisions, and the objectives stipulated in the recitals and other official documents. The challenging implications and contexts they examine include the following: – connection with systemic risk and the financial crisis; - nexus with insurance for negligent conduct; - connection with corporate governance doctrine; - risk management; - transparency; - the cross-border dimension; - liability for lost assets; - impact on alternative investment strategies, and - the nexus with the European Regulation on Long-Term Investment Funds (ELTIFR). Nine country reports, representing most of Europe’s financial centres and fund markets add a national perspective to the discussion of the European regulation. These chapters deal with the potential interactions among the AIFMD and the relevant laws and regulations of Austria, France, Germany, Italy, Luxembourg, Liechtenstein, The Netherlands, Malta and the United Kingdom. The second edition of the book continues to deliver not only the much-needed discussion of the inconsistencies and difficulties when applying the directive, but also provides guidance and potential solutions to the problems it raises. The second edition considers all new developments in the field of alternative investment funds, their managers, depositaries, and prime brokers, including, but not limited to, statements by the European Securities and Markets Authority (ESMA) and national competent authorities on the interpretation of the AIFMD, as well as new European regulation, in particular the PRIIPS Regulation, the ELTIF Regulation, the Regulation on European Venture Capital Funds (EuVeCaR), the Regulation on European Social Entrepreneurship Funds (EUSEFR), MiFID II, and UCITS V. The book will be warmly welcomed by investors and their counsel, fund managers, depositaries, asset managers, administrators, as well as regulators and academics in the field.
Book Synopsis Multilingual Interpretation of European Union Law by : Dirk A. Zetzsche
Download or read book Multilingual Interpretation of European Union Law written by Dirk A. Zetzsche and published by Kluwer Law International B.V.. This book was released on 2012-11-01 with total page 840 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Alternative Investment Fund Managers Directive (AIFMD) may be the most important European asset management regulation of the early 21st century. However, a preponderance of practitioners and academics in the field argue that, in its present form, the directive is seriously out of touch with both the system of European financial law and industry practice. In this first in-depth analytical and critical discussion of the content and system of the directive, thirty-four contributing authors – academics, lawyers, consultants, fund supervisors, and fund industry experts – examine the AIFMD from every angle. They cover structure, regulatory history, scope, appointment and authorization of the manager, rules on delegation, reporting requirements, transitional provisions, and the objectives stipulated in the recitals and other official documents. The challenging implications and contexts they examine include the following: connection with systemic risk and the financial crisis; impact on money laundering and financial crime; nexus with insurance for negligent conduct; connection with corporate governance doctrine; risk management; transparency; the cross-border dimension; liability for lost assets; and impact on alternative investment strategies. Ten country reports add a national perspective to the discussion of the European regulation. These chapters deal with the potential interactions among the AIFMD and the relevant laws and regulations of Italy, Switzerland, Luxembourg, The Netherlands, Austria, Liechtenstein, the United Kingdom, Germany, France, and Ireland. The former are Europe’s most vibrant financial centres and markets. Designed to spur a critical attitude towards the emerging new European financial markets framework presaged by the AIFMD, this much-needed discussion not only elaborates on the inconsistencies and difficulties sure to be encountered when applying the directive, but also provides potential solutions to the problems it raises. The book will be warmly welcomed by investors and their counsel, fund managers, depositaries, asset managers, and administrators, as well as academics in the field.
Book Synopsis Social Capital and Risk Sharing by : Abbas Mirakhor
Download or read book Social Capital and Risk Sharing written by Abbas Mirakhor and published by Springer. This book was released on 2015-12-30 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This exciting new addition to Palgrave Studies in Islamic Banking, Finance, and Economics argues that social capital can facilitate rule-compliance and co-operation in the sharing of risk in financial and economic activities.
Book Synopsis Challenges of Economic Development in the Middle East and North Africa Region by : Julia Devlin
Download or read book Challenges of Economic Development in the Middle East and North Africa Region written by Julia Devlin and published by World Scientific. This book was released on 2010 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt: development, political scientists and development practitioners." --Book Jacket.
Book Synopsis Free Trade Agreements in the Asia Pacific by : Christopher Charles Findlay
Download or read book Free Trade Agreements in the Asia Pacific written by Christopher Charles Findlay and published by World Scientific. This book was released on 2010 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Free Trade Agreements (FTAs) have proliferated in East Asia as regional economies rush to catch up with the rest of the world OCo but what difference do they make? This book answers that question by providing an up-to-date assessment of the quality and impact of FTAs in the region. Featuring a collection of papers originally written for the prestigious Research Institute for Economy, Trade and Industry (RIETI) in Tokyo, it presents contemporary analysis and insights into the evolution of recent FTAs. The book is suitable for use by trade policy negotiators, policy analysts, and people developing business strategies in organizations, as well as graduate students and researchers in the field. Sample Chapter(s). Chapter 1: Rules of Origin and Agricultural Trade Liberalisation in Major Free Trade Agreements (249 KB). Contents: Rules of Origin and Agricultural Trade Liberalisation in Major Free Trade Agreements (I Cheong & J Cho); Services in Free Trade Agreements (R Ochiai et al.); Analysis of the Restrictions on Foreign Direct Investment in Free Trade Agreements (S Urata & J Sasuya); A Comparison of the Safeguard Mechanisms of Free Trade Agreements (A Kotera & T Kitamura); Assessing the Economic Impacts of Free Trade Agreements: A Computable Equilibrium Model Approach (K Abe); The Impacts of Free Trade Agreements on Trade Flows: An Application of the Gravity Model Approach (S Urata & M Okabe); On the Use of Free Trade Agreements by Japanese Firms (K Takahashi & S Urata); Impacts of Japanese FTAs/EPAs: Preliminary Post Evaluation (M Ando). Readership: Graduate students and researchers in international trade; trade policy negotiators; policy analysts; business strategy developers."
Book Synopsis International Financial Crisis, The: Have The Rules Of Finance Changed? by : Douglas D Evanoff
Download or read book International Financial Crisis, The: Have The Rules Of Finance Changed? written by Douglas D Evanoff and published by World Scientific. This book was released on 2011-01-27 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent global financial crisis has caused massive upheavals worldwide. The papers in this volume analyze whether financial principles seem to have shifted in recent years, and what that may mean for international financial markets and regulation. What “broke” in the current crisis? Is there no “playbook” on how to respond to systemic crises? What is the optimal role of the state in dealing with crises? How should asset bubbles be addressed in the future? Do we need a major overhaul of governance in the industry? What means exist to address systemic crises? What reforms are needed? These and related issues are discussed by an impressive list of well-known scholars, policymakers and practitioners, with an emphasis on the implications for public policy.
Book Synopsis The First Global Financial Crisis of the 21st Century by : Andrew Felton
Download or read book The First Global Financial Crisis of the 21st Century written by Andrew Felton and published by Centre for Economic Policy Research. This book was released on 2008 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Highlights how losses in the US subprime market had spread beyond the confines of the US mortgage sector and the borders of the United States, how risk spreads had ballooned and liquidity in some markets had dried up forcing large financial institutions to report significant losses. Bank runs were no longer the stuff of history." - Cover.
Book Synopsis Financial Crises Explanations, Types, and Implications by : Mr.Stijn Claessens
Download or read book Financial Crises Explanations, Types, and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Book Synopsis Global Waves of Debt by : M. Ayhan Kose
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Book Synopsis Systemic Implications of Transatlantic Regulatory Cooperation and Competition by : Simon J. Evenett
Download or read book Systemic Implications of Transatlantic Regulatory Cooperation and Competition written by Simon J. Evenett and published by World Scientific. This book was released on 2011 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on the best legal, economic and political science expertise from both sides of the Atlantic, as well as on the knowledge of officials and private practitioners with experience in both industrialized and developing countries, this book assesses the systemic, global implications of transatlantic regulatory cooperation and competition.
Book Synopsis Government and Markets by : Edward J. Balleisen
Download or read book Government and Markets written by Edward J. Balleisen and published by Cambridge University Press. This book was released on 2010 with total page 579 pages. Available in PDF, EPUB and Kindle. Book excerpt: After two generations of emphasis on governmental inefficiency and the need for deregulation, we now see growing interest in the possibility of constructive governance, alongside public calls for new, smarter regulation. Yet there is a real danger that regulatory reforms will be rooted in outdated ideas. As the financial crisis has shown, neither traditional market failure models nor public choice theory, by themselves, sufficiently inform or explain our current regulatory challenges. Regulatory studies, long neglected in an atmosphere focused on deregulatory work, is in critical need of new models and theories that can guide effective policy-making. This interdisciplinary volume points the way toward the modernization of regulatory theory. Its essays by leading scholars move past predominant approaches, integrating the latest research about the interplay between human behavior, societal needs, and regulatory institutions. The book concludes by setting out a potential research agenda for the social sciences.
Book Synopsis Comparative Advantage, Growth, and the Gains from Trade and Globalization by : Robert Mitchell Stern
Download or read book Comparative Advantage, Growth, and the Gains from Trade and Globalization written by Robert Mitchell Stern and published by World Scientific. This book was released on 2011 with total page 716 pages. Available in PDF, EPUB and Kindle. Book excerpt: Alan Deardorff was 65 years old on June 6, 2009. To celebrate this occasion, a Festschrift in his honor was held on October 2-3, 2009, in the Rackham Amphitheater at the University of Michigan. This title includes reprints of many of Professor Deardorff's most important papers that underlie the reflections on his work by the Festschrift panelists.
Book Synopsis The Euro in the 21st Century by : Maria Lorca-Susino
Download or read book The Euro in the 21st Century written by Maria Lorca-Susino and published by Routledge. This book was released on 2016-02-17 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Euro in the 21st Century clarifies the perception of the euro and empirically demonstrates that the euro has become a true common currency and the Eurozone a true optimal currency area, presenting, in turn, a model to imitate. In order to demonstrate this, this study analyzes the economic and monetary requirements and policies required to introduce a common currency as well as the theoretical underpinnings of both the European integration process and the historical economic, monetary, political, and social circumstances that favoured the creation of the economic and monetary union. Furthermore, this book sheds light on how the current economic and monetary circumstances are affecting the euro project through and analysis of three intertwined issues. It studies how the economic chaos and financial uproar, which has plagued the Eurozone and world economy since 2008, has affected the single-currency regime as well as the current image of the euro worldwide. Moreover it summarizes the lesson to be learnt from what can be considered 'the first euro crisis'. Finally, it thoroughly analyzes the behaviour of the US Federal Reserve, the European Central Bank, and the International Monetary Fund during this crisis. This book draws on and contributes to several bodies of literature within Political Economy, Economics, and International Relations and is particularly relevant at this time given that the current unfolding economic imbalances are causing some Eurozone Member States to rethink their economic and political views concerning the euro.
Book Synopsis The Panic of 1907 by : Robert F. Bruner
Download or read book The Panic of 1907 written by Robert F. Bruner and published by John Wiley & Sons. This book was released on 2009-04-27 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Before reading The Panic of 1907, the year 1907 seemed like a long time ago and a different world. The authors, however, bring this story alive in a fast-moving book, and the reader sees how events of that time are very relevant for today's financial world. In spite of all of our advances, including a stronger monetary system and modern tools for managing risk, Bruner and Carr help us understand that we are not immune to a future crisis." —Dwight B. Crane, Baker Foundation Professor, Harvard Business School "Bruner and Carr provide a thorough, masterly, and highly readable account of the 1907 crisis and its management by the great private banker J. P. Morgan. Congress heeded the lessons of 1907, launching the Federal Reserve System in 1913 to prevent banking panics and foster financial stability. We still have financial problems. But because of 1907 and Morgan, a century later we have a respected central bank as well as greater confidence in our money and our banks than our great-grandparents had in theirs." —Richard Sylla, Henry Kaufman Professor of the History of Financial Institutions and Markets, and Professor of Economics, Stern School of Business, New York University "A fascinating portrayal of the events and personalities of the crisis and panic of 1907. Lessons learned and parallels to the present have great relevance. Crises and panics are as much a part of our future as our past." —John Strangfeld, Vice Chairman, Prudential Financial "Who would have thought that a hundred years after the Panic of 1907 so much remained to be written about it? Bruner and Carr break significant new ground because they are willing to do the heavy lifting of combing through massive archival material to identify and weave together important facts. Their book will be of interest not only to banking theorists and financial historians, but also to business school and economics students, for its rare ability to teach so clearly why and how a panic unfolds." —Charles Calomiris, Henry Kaufman Professor of Financial Institutions, Columbia University, Graduate School of Business
Book Synopsis Regulation and the Credit Rating Agencies by : Daniel Cash
Download or read book Regulation and the Credit Rating Agencies written by Daniel Cash and published by Routledge. This book was released on 2018-08-06 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the transgressions of the credit rating agencies before, during and after the recent financial crisis. It proposes that by restricting the agencies’ ability to offer ancillary services there stands the opportunity to limit, in an achievable and practical manner, the potentially negative effect that the Big Three rating agencies – Standard & Poor’s, Moody’s and Fitch – may have upon the financial sector and society moreover. The book contains an extensive and in-depth discussion about how the agencies ascended to their current position, why they were able to do so and ultimately their behaviour once their position was cemented. This work offers a new framework for the reader to follow, suggesting that investors, issuers and the state have a ‘desired’ version of the agencies in their thinking and operate upon that basis when, in fact, those imagined agencies do not exist, as demonstrated by the ‘actual’ conduct of the agencies. The book primarily aims to uncover this divergence and reveal the ‘real’ credit rating agencies, and then on that basis propose a real and potentially achievable reform to limit the negative effects that result from poor performance in this Industry. It addresses the topics with regard to financial regulation and the financial crisis, and will be of interest to legal scholars interested in the intersection between business and he law as well as researchers, academics, policymakers, industry and professional associations and students in the fields of corporate law, banking and finance law, financial regulation, corporate governance and corporate finance.
