International Harmonization Of Financial Regulation

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International Harmonization of Financial Regulation?

Author : Hyoung-kyu Chey
Publisher : Routledge
ISBN 13 : 1134500874
Total Pages : 228 pages
Book Rating : 4.1/5 (345 download)

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Book Synopsis International Harmonization of Financial Regulation? by : Hyoung-kyu Chey

Download or read book International Harmonization of Financial Regulation? written by Hyoung-kyu Chey and published by Routledge. This book was released on 2014-01-02 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is often argued that international financial regulation has been substantially strengthened over the past decades through the international harmonization of financial regulation. There are, however, still frequent outbreaks of painful financial crises, including the recent 2008 global financial crisis. This raises doubts about the conventional claims of the strengthening of international financial regulation. This book provides an in-depth political economy study of the adoptions in Japan, Korea and Taiwan of the 1988 Basel Capital Accord, the now so-called Basel I, which has been at the center of international banking regulation over the past three decades, highlighting the domestic politics surrounding it. The book illustrates that, despite banks’ formal compliance with the Accord in these countries, their compliance was often cosmetic due to extensive regulatory forbearance that allowed their real capital soundness to weaken. Domestic politics thus ultimately determined national implementations of the Accord. This book provides its novel innovative study of the Accord through scores of interviews with bank regulators and analysis of various primary documents. It suggests that the actual effectiveness of international financial regulation relies ultimately on the domestic politics surrounding it. It implies as well that the past trend of international harmonization of financial regulation may be illusory, to at least some extent, in terms of its actual effectiveness. This book may interest not only political economists but also scholars working on the intersection of law, economics and institutions.

International Harmonization of Financial Regulation?

Author : Hyoung-kyu Chey
Publisher : Routledge
ISBN 13 : 1134500947
Total Pages : 275 pages
Book Rating : 4.1/5 (345 download)

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Book Synopsis International Harmonization of Financial Regulation? by : Hyoung-kyu Chey

Download or read book International Harmonization of Financial Regulation? written by Hyoung-kyu Chey and published by Routledge. This book was released on 2014-01-02 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is often argued that international financial regulation has been substantially strengthened over the past decades through the international harmonization of financial regulation. There are, however, still frequent outbreaks of painful financial crises, including the recent 2008 global financial crisis. This raises doubts about the conventional claims of the strengthening of international financial regulation. This book provides an in-depth political economy study of the adoptions in Japan, Korea and Taiwan of the 1988 Basel Capital Accord, the now so-called Basel I, which has been at the center of international banking regulation over the past three decades, highlighting the domestic politics surrounding it. The book illustrates that, despite banks’ formal compliance with the Accord in these countries, their compliance was often cosmetic due to extensive regulatory forbearance that allowed their real capital soundness to weaken. Domestic politics thus ultimately determined national implementations of the Accord. This book provides its novel innovative study of the Accord through scores of interviews with bank regulators and analysis of various primary documents. It suggests that the actual effectiveness of international financial regulation relies ultimately on the domestic politics surrounding it. It implies as well that the past trend of international harmonization of financial regulation may be illusory, to at least some extent, in terms of its actual effectiveness. This book may interest not only political economists but also scholars working on the intersection of law, economics and institutions.

Financial Regulatory Harmonization and the Globalization of Finance

Author : Cally Jordan
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Financial Regulatory Harmonization and the Globalization of Finance by : Cally Jordan

Download or read book Financial Regulatory Harmonization and the Globalization of Finance written by Cally Jordan and published by World Bank Publications. This book was released on 2002 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Regulation in the Global Economy

Author : Richard J. Herring
Publisher : Brookings Institution Press
ISBN 13 : 9780815791553
Total Pages : 236 pages
Book Rating : 4.7/5 (915 download)

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Book Synopsis Financial Regulation in the Global Economy by : Richard J. Herring

Download or read book Financial Regulation in the Global Economy written by Richard J. Herring and published by Brookings Institution Press. This book was released on 1994-12-01 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the major industrialized nations have developed cooperative procedures for supervising banks, harmonized their standards for bank capital requirements, and initiated cooperative understanding about securities market supervision. This book assesses what further coordination and harmonization in financial regulation will be required in an era of increased globalization. A volume of Brookings' Integrating National Economies Series

International Harmonization of Economic Regulation

Author : Junji Nakagawa
Publisher :
ISBN 13 : 0199604665
Total Pages : 409 pages
Book Rating : 4.1/5 (996 download)

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Book Synopsis International Harmonization of Economic Regulation by : Junji Nakagawa

Download or read book International Harmonization of Economic Regulation written by Junji Nakagawa and published by . This book was released on 2011 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the advancing globalization of the world economy, domestic economic regulations are becoming more and more subject to efforts at international harmonization. This book presents an analysis of this worldwide phenomenon from both a legal and a politico-economic perspective by focusing on (1) the backgrounds and objectives of international harmonization, (2) the negotiating processes involved, and (3) the impact of harmonization on domestic laws and their administration. International harmonization is discussed in a wide range of cases including trade-related regulations, technical standards and food safety standards, intellectual property rights, labour standards, competition law and policy, financial regulations, and regulations concerning transnational economic crime. Drawing on a wide range of materials and applying a unified analytical framework based on theoretical as well as practical observations, the book surveys this much debated topic in a comprehensive and accessible way. It thus contributes to a better understanding of both the chances and the challenges of globalization and global governance today.

Banking On Basel

Author : Daniel Tarullo
Publisher : Columbia University Press
ISBN 13 : 0881324914
Total Pages : 256 pages
Book Rating : 4.8/5 (813 download)

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Book Synopsis Banking On Basel by : Daniel Tarullo

Download or read book Banking On Basel written by Daniel Tarullo and published by Columbia University Press. This book was released on 2008-11-30 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The turmoil in financial markets that resulted from the 2007 subprime mortgage crisis in the United States indicates the need to dramatically transform regulation and supervision of financial institutions. Would these institutions have been sounder if the 2004 Revised Framework on International Convergence of Capital Measurement and Capital Standards (Basel II accord)—negotiated between 1999 and 2004—had already been fully implemented? Basel II represents a dramatic change in capital regulation of large banks in the countries represented on the Basel Committee on Banking Supervision: Its internal ratings–based approaches to capital regulation will allow large banks to use their own credit risk models to set minimum capital requirements. The Basel Committee itself implicitly acknowledged in spring 2008 that the revised framework would not have been adequate to contain the risks exposed by the subprime crisis and needed strengthening. This crisis has highlighted two more basic questions about Basel II: One, is the method of capital regulation incorporated in the revised framework fundamentally misguided? Two, even if the basic Basel II approach has promise as a paradigm for domestic regulation, is the effort at extensive international harmonization of capital rules and supervisory practice useful and appropriate? This book provides the answers. It evaluates Basel II as a bank regulatory paradigm and as an international arrangement, considers some possible alternatives, and recommends significant changes in the arrangement.

The Harmonization of International Commercial Law

Author : Silvia Fazio
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041125876
Total Pages : 298 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis The Harmonization of International Commercial Law by : Silvia Fazio

Download or read book The Harmonization of International Commercial Law written by Silvia Fazio and published by Kluwer Law International B.V.. This book was released on 2007-01-01 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Preface. 1. The World Scenario and the Approximation of Law. 2. Vehicles for the Harmonisation of Law. 3. Regionalisation and Standardisation of Law. 4. Regional Corporate Law Harmonisation: The EU and the Mercosur. 5. The Infrastructure of Capital. 6. The Phenomenon of Development: International and Regional Approaches to Banking and Financial Law. 7. Theories of the Company. 8. Corporate Governance. 9. International Legal Standards and the Inclusion of Emerging Countries in the Globalised Order: The Case Study of Brazil. 10. Conclusion: Legal Pluralism and the Creation of Standards within the Process of Globalisation¿Analytical Summary and Theoretical and Practical Implications. Bibliography.

Current Challenges in Financial Regulation

Author : Stijn Claessens
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4./5 ( download)

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Book Synopsis Current Challenges in Financial Regulation by : Stijn Claessens

Download or read book Current Challenges in Financial Regulation written by Stijn Claessens and published by World Bank Publications. This book was released on 2006 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial intermediation and financial services industries have undergone many changes in the past two decades due to deregulation, globalization, and technological advances. The framework for regulating finance has seen many changes as well, with approaches adapting to new issues arising in specific groups of countries or globally. The objectives of this paper are twofold: to review current international thinking on what regulatory framework is needed to develop a financial sector that is stable, yet efficient, and provides proper access to households and firms; and to review the key experiences regarding international financial architecture initiatives, with a special focus on issues arising for developing countries. The paper outlines a number of areas of current debate: the special role of banks, competition policy, consumer protection, harmonization of rules-across products, within markets, and globally-and the adaptation and legitimacy of international standards to the circumstances facing developing countries. It concludes with some areas where more research would be useful.

Global Financial Regulation

Author : Howard Davies
Publisher : John Wiley & Sons
ISBN 13 : 0745655882
Total Pages : 180 pages
Book Rating : 4.7/5 (456 download)

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Book Synopsis Global Financial Regulation by : Howard Davies

Download or read book Global Financial Regulation written by Howard Davies and published by John Wiley & Sons. This book was released on 2013-05-08 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: As international financial markets have become more complex, so has the regulatory system which oversees them. The Basel Committee is just one of a plethora of international bodies and groupings which now set standards for financial activity around the world, in the interests of protecting savers and investors and maintaining financial stability. These groupings, and their decisions, have a major impact on markets in developed and developing countries, and on competition between financial firms. Yet their workings are shrouded in mystery, and their legitimacy is uncertain. Here, for the first time, two men who have worked within the system describe its origins and development in clear and accessible terms. Howard Davies was the first Chairman of the UK's Financial Services Authority, the single regulator for the whole of Britain's financial sector. David Green was Head of International Policy at the FSA, after spending thirty years in the Bank of England, and has been closely associated with the development of the current European regulatory arrangements. Now with a revised and updated introduction, which catalogues the changes made since the credit crisis erupted, this guide to the international system will be invaluable for regulators, financial market practitioners and for students of the global financial system, wherever they are located. The book shows how the system has been challenged by new financial instruments and by new types of institutions such as hedge funds and private equity. Furthermore, the growth in importance of major developing countries, who were excluded for far too long from the key decision-making for a has led to a major overhaul. The guide is essential reading for all those interested in the development of financial markets and the way they are regulated. The revised version is only available in paperback.

Regulating Capital

Author : David Andrew Singer
Publisher : Cornell University Press
ISBN 13 : 1501702297
Total Pages : 231 pages
Book Rating : 4.5/5 (17 download)

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Book Synopsis Regulating Capital by : David Andrew Singer

Download or read book Regulating Capital written by David Andrew Singer and published by Cornell University Press. This book was released on 2015-11-15 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial instability threatens the global economy. The volatility of capital movements across national borders has led many observers to argue for a reformed "global financial architecture," a body of consistent rules and institutions to prevent financial crises. Yet regulators have a decidedly mixed record in their attempts to create global standards for the financial system. David Andrew Singer seeks to explain the varying pressures on regulatory agencies to negotiate internationally acceptable rules and suggests that the variation is largely traceable to the different domestic political pressures faced by regulators. In Regulating Capital, Singer provides both a theory of the effects of domestic pressures on international regulation and a detailed analysis of regulators' attempts at international rulemaking in banking, securities, and insurance. Singer addresses the complexities of global finance in an accessible style, and he does not turn away from the more dramatic aspects of globalization; he makes clear the international implications of bank failures and stock-market crashes, the rise of derivatives, and the catastrophic financial losses caused by Hurricane Katrina and the events of September 11.

Voluntary Disruptions

Author : Abraham L. Newman
Publisher : Oxford University Press
ISBN 13 : 0192550500
Total Pages : 200 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis Voluntary Disruptions by : Abraham L. Newman

Download or read book Voluntary Disruptions written by Abraham L. Newman and published by Oxford University Press. This book was released on 2018-03-09 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: From home mortgages to i-phones, basic elements of our daily lives depend on international economic markets. The astonishing complexity of these exchanges may seem ungoverned. Yet the global economy remains deeply bound by rules. Far from the staid world of treaties and state-to-state diplomacy, economic governance increasingly relies on a different class of international market regulation - soft law - comprised of voluntary standards, best practices, and recommended guidance created by a motley assortment of international organizations. Voluntary Disruptions argues that international soft law is deeply political, shaping the winners and losers of globalization. Some observers focus on soft law's potential to solve problems and coordinate market participants. Voluntary Disruptions widens the discussion, shifting attention to the ways soft law provides new political resources to some groups while not to others and alters the sites of contestation and the actors who participate in them. Highlighting two mechanisms - legitimacy claims and arena expansion - the book explains how soft law, typically viewed as limited by its voluntary nature, disrupts and transforms the politics of economic governance. Using financial regulation as its laboratory, Voluntary Disruptions explains the remarkable pre-crisis alignment of US and European approaches to governing markets, the rise and prominence of transnational industry associations in the 1990s and 2000s, and the ambivalence of US reforms towards international market cooperation in the wake of the 2008 financial crisis. Rethinking scholarly and policy approaches to international soft law, this volume answers enduring and pressing questions about global finance, International Relations, and power. Transformations in Governance is a major new academic book series from Oxford University Press. It is designed to accommodate the impressive growth of research in comparative politics, international relations, public policy, federalism, and environmental and urban studies concerned with the dispersion of authority from central states to supranational institutions, subnational governments, and public-private networks. It brings together work that advances our understanding of the organization, causes, and consequences of multilevel and complex governance. The series is selective, containing annually a small number of books of exceptionally high quality by leading and emerging scholars. The series is edited by Liesbet Hooghe and Gary Marks of the University of North Carolina, Chapel Hill, and Walter Mattli of the University of Oxford.

Voluntary Disruptions

Author : Abraham Newman
Publisher : Oxford University Press
ISBN 13 : 0198818386
Total Pages : 219 pages
Book Rating : 4.1/5 (988 download)

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Book Synopsis Voluntary Disruptions by : Abraham Newman

Download or read book Voluntary Disruptions written by Abraham Newman and published by Oxford University Press. This book was released on 2018 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: From home mortgages to i-phones, basic elements of our daily lives depend on international economic markets. The astonishing complexity of these exchanges may seem ungoverned. Yet the global economy remains deeply bound by rules. Far from the staid world of treaties and state-to-state diplomacy, economic governance increasingly relies on a different class of international market regulation - soft law - comprised of voluntary standards, best practices, and recommended guidance created by a motley assortment of international organizations. Voluntary Disruptions argues that international soft law is deeply political, shaping the winners and losers of globalization. Some observers focus on soft law's potential to solve problems and coordinate market participants. Voluntary Disruptions widens the discussion, shifting attention to the ways soft law provides new political resources to some groups while not to others and alters the sites of contestation and the actors who participate in them. Highlighting two mechanisms - legitimacy claims and arena expansion - the book explains how soft law, typically viewed as limited by its voluntary nature, disrupts and transforms the politics of economic governance. Using financial regulation as its laboratory, Voluntary Disruptions explains the remarkable pre-crisis alignment of US and European approaches to governing markets, the rise and prominence of transnational industry associations in the 1990s and 2000s, and the ambivalence of US reforms towards international market cooperation in the wake of the 2008 financial crisis. Rethinking scholarly and policy approaches to international soft law, this volume answers enduring and pressing questions about global finance, International Relations, and power. Transformations in Governance is a major new academic book series from Oxford University Press. It is designed to accommodate the impressive growth of research in comparative politics, international relations, public policy, federalism, and environmental and urban studies concerned with the dispersion of authority from central states to supranational institutions, subnational governments, and public-private networks. It brings together work that advances our understanding of the organization, causes, and consequences of multilevel and complex governance. The series is selective, containing annually a small number of books of exceptionally high quality by leading and emerging scholars. The series is edited by Liesbet Hooghe and Gary Marks of the University of North Carolina, Chapel Hill, and Walter Mattli of the University of Oxford.

Financial Regulation in the European Union

Author : Rainer Kattel
Publisher : Routledge
ISBN 13 : 1317428838
Total Pages : 412 pages
Book Rating : 4.3/5 (174 download)

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Book Synopsis Financial Regulation in the European Union by : Rainer Kattel

Download or read book Financial Regulation in the European Union written by Rainer Kattel and published by Routledge. This book was released on 2015-10-08 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection offers a comparative overview of how financial regulations have evolved in various European countries since the introduction of the single European market in 1986. It includes a number of country studies which provides a narrative of the domestic financial regulatory structure at the beginning of the period, as well the means by which the EU Directives have been introduced into domestic legislation and the impact on the financial structure of the economy. In particular, studies highlight how the discretion allowed by the Directives has been used to meet the then existing domestic conditions and financial structure as well as how they have modified that structure. Countries covered are France, Germany, Italy, Spain, Estonia, Hungary and Slovenia. The book also contains an overview of regulatory changes in the UK and Nordic countries, and in post-crisis USA. This comparative approach raises questions about whether past and more recent regulatory changes have in fact contributed to increase financial stability in the EU. The comparative analysis provided in this book raises questions on whether the past and more recent changes are contributing to increase the financial stability and efficiency of individual banks and national financial systems. The crisis has demonstrated the drawbacks of formulating the regulatory framework on standards borrowed from the best industry practices from the large developed countries, originally designed exclusively for large global banks, but now applied to all financial institutions.

The Globalized Governance of Finance

Author : David Zaring
Publisher : Cambridge University Press
ISBN 13 : 1108475515
Total Pages : 181 pages
Book Rating : 4.1/5 (84 download)

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Book Synopsis The Globalized Governance of Finance by : David Zaring

Download or read book The Globalized Governance of Finance written by David Zaring and published by Cambridge University Press. This book was released on 2019-12-12 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that the global, informal process supervising the financial system is an overlooked form of international governance that actually works.

The UK and Multi-level Financial Regulation

Author : Scott James
Publisher : Oxford University Press
ISBN 13 : 019256420X
Total Pages : 331 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis The UK and Multi-level Financial Regulation by : Scott James

Download or read book The UK and Multi-level Financial Regulation written by Scott James and published by Oxford University Press. This book was released on 2020-02-06 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: The UK and Multi-level Financial Regulation examines the role of the United Kingdom (UK) in shaping post-crisis financial regulatory reform, and assesses the implications of the UK's withdrawal from the European Union (EU). It develops a domestic political economy approach to examine how the interaction of three domestic groups - elected officials, financial regulators, and the financial industry - shaped UK preferences, strategy, and influence in international and EU-level regulatory negotiations. The framework is applied to five case studies: bank capital and liquidity requirements; bank recovery and resolution rules; bank structural reforms; hedge fund regulation; and the regulation of over-the-counter derivatives. It concludes by reflecting on the future of UK financial regulation after Brexit. The book argues that UK regulators pursued more stringent regulation when they had strong political support to resist financial industry lobbying. UK regulators promoted international harmonisation of rules when this protected the competitiveness of industry or enabled cross-border externalities to be managed more effectively; but were often more resistant to new EU rules when these threatened UK interests. Consequently, the UK was more successful at shaping international standards by leveraging its market power, regulatory capacity, and alliance building (with the US). But it often met with greater political resistance at the EU level, forcing it to use legal challenges to block reform or secure exemptions. The book concludes that political and regulatory pressure was pivotal in defining the UK's 'hard' Brexit position, and so the future UK-EU relationship in finance will most likely be based on a framework of regulatory equivalence.

Regulating Financial Services and Markets in the 21st Century

Author : Eilís Ferran
Publisher : Hart Publishing
ISBN 13 : 1841132799
Total Pages : 357 pages
Book Rating : 4.8/5 (411 download)

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Book Synopsis Regulating Financial Services and Markets in the 21st Century by : Eilís Ferran

Download or read book Regulating Financial Services and Markets in the 21st Century written by Eilís Ferran and published by Hart Publishing. This book was released on 2001-09-11 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this work offer a high-level examination of the most important issues facing financial services regulation,and the far-reaching effects of the Financial Services and Markets Act 2000 on the UK financial sector in the context of rapid global change. Taking an interdisciplinary approach the book includes contributions by many distinguished academic authorities on the law and economics of regulation, and also some of the most influential practitioners, regulators and policymakers. As such it provides an authoritative analysis of the underlying issues affecting the broad development of financial services regulation: the objectives of regulation, the responsibilities of the regulated community, the accountability of regulators, the regulation of electronic financial markets and the impact of stock market mergers, regional regulation within Europe, and the development of global financial regulation.

International Banking Law and Regulation

Author : Dennis Campbell
Publisher : Oxford University Press, USA
ISBN 13 : 9780379012866
Total Pages : 0 pages
Book Rating : 4.0/5 (128 download)

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Book Synopsis International Banking Law and Regulation by : Dennis Campbell

Download or read book International Banking Law and Regulation written by Dennis Campbell and published by Oxford University Press, USA. This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive resource on International Banking Law and regulation.