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U.S. Bank Deregulation in Historical Perspective

Author : Charles W. Calomiris
Publisher : Cambridge University Press
ISBN 13 : 0521028388
Total Pages : 392 pages
Book Rating : 4.5/5 (21 download)

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Book Synopsis U.S. Bank Deregulation in Historical Perspective by : Charles W. Calomiris

Download or read book U.S. Bank Deregulation in Historical Perspective written by Charles W. Calomiris and published by Cambridge University Press. This book was released on 2006-11-02 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows how deregulation is transforming the size, structure, and geographic range of U.S. banks, the scope of banking services, and the nature of bank-customer relationships. Over the past two decades the characteristics that had made American banks different from other banks throughout the world--a fragmented geographical structure of the industry, which restricted the scale of banks and their ability to compete with one another, and strict limits on the kinds of products and services commercial banks could offer--virtually have been eliminated. Understanding the origins and persistence of the unique banking regulations that defined U.S. banking for over a century lends an important perspective on the economic and political causes and consequences of the current process of deregulation.

Financial Deregulation

Author : Alexis Drach
Publisher : Oxford University Press
ISBN 13 : 0192598961
Total Pages : 240 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis Financial Deregulation by : Alexis Drach

Download or read book Financial Deregulation written by Alexis Drach and published by Oxford University Press. This book was released on 2021-05-20 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: A wave of liberalization swept the developed world at end of the twentieth century. From the 1970s and 1980s onwards, most developed countries have passed various measures to liberalize and modernize the financial markets. Each country had its agenda, but most of them have experienced, to a different extent, a change in regulatory regime. This change, often labeled deregulation and associated with the advent of neoliberalism, was sharply contrasting with the previous era of the Bretton Woods system, which has sometimes been portrayed as an era of financial repression. On the other hand, a quick glance at financial regulation today - at the amount of paper it produces, at its complexity, at the number of people involved, and at the resources invested in it - is enough to say that, somehow, there is more regulation today than ever before. In the new system, financial regulation has taken unprecedented importance. As more archival material is becoming available, a better understanding of the fundamental changes in the regulatory environment towards the end of the twentieth century is now possible. What kind of change exactly was deregulation? Did competition between financial regulators lead to a race to the bottom in regulation? Is deregulation responsible for the recurring financial crises which seem to have characterised the international financial system since the 1980s? The movement towards a more liberal regulatory regime was neither linear nor simple. This book - a collection of chapters studying deregulation in various countries and contexts - examines the national and international pathways of deregulation by providing an in-depth analysis of a short but crucial period in a few major countries.

Economic Regulation and Its Reform

Author : Nancy L. Rose
Publisher : University of Chicago Press
ISBN 13 : 022613816X
Total Pages : 619 pages
Book Rating : 4.2/5 (261 download)

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Book Synopsis Economic Regulation and Its Reform by : Nancy L. Rose

Download or read book Economic Regulation and Its Reform written by Nancy L. Rose and published by University of Chicago Press. This book was released on 2014-08-29 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.

The deregulation of banking

Author : Lisa Dietzen
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (143 download)

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Book Synopsis The deregulation of banking by : Lisa Dietzen

Download or read book The deregulation of banking written by Lisa Dietzen and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

State and Financial Systems in Europe and the USA

Author : Dr Jaime Reis
Publisher : Ashgate Publishing, Ltd.
ISBN 13 : 1409480739
Total Pages : 244 pages
Book Rating : 4.4/5 (94 download)

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Book Synopsis State and Financial Systems in Europe and the USA by : Dr Jaime Reis

Download or read book State and Financial Systems in Europe and the USA written by Dr Jaime Reis and published by Ashgate Publishing, Ltd.. This book was released on 2013-06-28 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the twentieth century the financial sector became possibly the most regulated area of the economy in many advanced and developing countries. The interwar years represented the defining moment for the escalation of governments' intervention, turning the State into the core of financial systems in its capacity of regulator, supervisor or owner. The essays in this collection shed light on different aspects of the experience of financial regulation, ownership and deregulation in Europe and the USA from a secular historical perspective. The volume's chapters explore how the political economy of finance changed in the nineteenth and twentieth centuries and how such changes were related to shifting attitudes towards globalization. They also investigate how regulation responded to governance problems of financial intermediaries and markets, and how different legal frameworks and institutional architectures influenced such response. The collection engages with a set of issues as diverse as they are interrelated across countries and over time: the regulatory attitude of British authorities toward the banking system and the stock exchange market in the nineteenth and twentieth centuries; the comparative evolution of bankruptcy laws and procedures; the link between state, regulation and governance in the evolution of the US and French financial systems; the emergence of banking regulation and supervision by central banks; the regulation and supervision of international financial markets since the 1950s; and the connection between deregulation and banking crises at the end of the past century. Taken as a whole, the chapters offer an intriguing insight into the differing ways western countries approached and responded to the challenges of the international financial system, and the legacy of this on the modern world. In so doing the volume holds up to historical scrutiny the debate as to whether overt state regulation of financial markets always has a negative affect on economic growth, or whether it can be an essential tool for developing nations in their efforts to expand their economies.

After Redlining

Author : Rebecca K. Marchiel
Publisher : University of Chicago Press
ISBN 13 : 0226815862
Total Pages : 321 pages
Book Rating : 4.2/5 (268 download)

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Book Synopsis After Redlining by : Rebecca K. Marchiel

Download or read book After Redlining written by Rebecca K. Marchiel and published by University of Chicago Press. This book was released on 2021-09-05 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The story of how American banks helped disenfranchise nonwhite urbanities and condemn to blight the very neighborhoods that needed the most investment is infuriating. And yet, by digging into the history of urban finance, Rebecca Marchiel here illuminates how urban activists changed some banks' behavior to support investment in communities that they had once abandoned. These developments, in turn, affected federal urban policy and reshaped banks' understanding of the role that urban communities play in the financial system. The legacy of reinvestment activism is clouded, but Marchiel's detailing of it transforms our understanding of the history and significance of community/bank relations"--Provided by publisher.

13 Bankers

Author : Simon Johnson
Publisher : Vintage
ISBN 13 : 030747660X
Total Pages : 338 pages
Book Rating : 4.3/5 (74 download)

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Book Synopsis 13 Bankers by : Simon Johnson

Download or read book 13 Bankers written by Simon Johnson and published by Vintage. This book was released on 2011-01-11 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: In spite of its key role in creating the ruinous financial crisis of 2008, the American banking industry has grown bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks whose assets amount to more than 60 percent of the country’s gross domestic product, this oligarchy proved it could first hold the global economy hostage and then use its political muscle to fight off meaningful reform. 13 Bankers brilliantly charts the rise to power of the financial sector and forcefully argues that we must break up the big banks if we want to avoid future financial catastrophes. Updated, with additional analysis of the government’s recent attempt to reform the banking industry, this is a timely and expert account of our troubled political economy.

The Banks Did It

Author : Neil Fligstein
Publisher : Harvard University Press
ISBN 13 : 0674249356
Total Pages : 334 pages
Book Rating : 4.6/5 (742 download)

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Book Synopsis The Banks Did It by : Neil Fligstein

Download or read book The Banks Did It written by Neil Fligstein and published by Harvard University Press. This book was released on 2021-06-08 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive account of the rise and fall of the mortgage-securitization industry, which explains the complex roots of the 2008 financial crisis. More than a decade after the 2008 financial crisis plunged the world economy into recession, we still lack an adequate explanation for why it happened. Existing accounts identify a number of culpritsÑfinancial instruments, traders, regulators, capital flowsÑyet fail to grasp how the various puzzle pieces came together. The key, Neil Fligstein argues, is the convergence of major US banks on an identical business model: extracting money from the securitization of mortgages. But how, and why, did this convergence come about? The Banks Did It carefully takes the reader through the development of a banking industry dependent on mortgage securitization. Fligstein documents how banks, with help from the government, created the market for mortgage securities. The largest banksÑCountrywide Financial, Bear Stearns, Citibank, and Washington MutualÑsoon came to participate in every aspect of this market. Each firm originated mortgages, issued mortgage-backed securities, sold those securities, and, in many cases, acted as their own best customers by purchasing the same securities. Entirely reliant on the throughput of mortgages, these firms were unable to alter course even when it became clear that the market had turned on them in the mid-2000s. With the structural features of the banking industry in view, the rest of the story falls into place. Fligstein explains how the crisis was produced, where it spread, why regulators missed the warning signs, and how banksÕ dependence on mortgage securitization resulted in predatory lending and securities fraud. An illuminating account of the transformation of the American financial system, The Banks Did It offers important lessons for anyone with a stake in avoiding the next crisis.

The S&L Debacle

Author : Lawrence J. White
Publisher : Oxford University Press, USA
ISBN 13 :
Total Pages : 306 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The S&L Debacle by : Lawrence J. White

Download or read book The S&L Debacle written by Lawrence J. White and published by Oxford University Press, USA. This book was released on 1991 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This is a very insightful book by an author who has that rare blend of analysis that can come only form both an academic and a regulator. Regardless of one's views, this book should be read in order to understand fully the evolving problems in the thrift industry.' -- Henry Kaufman

Kicking Away the Ladder

Author : Ha-Joon Chang
Publisher : Anthem Press
ISBN 13 : 0857287613
Total Pages : 196 pages
Book Rating : 4.8/5 (572 download)

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Book Synopsis Kicking Away the Ladder by : Ha-Joon Chang

Download or read book Kicking Away the Ladder written by Ha-Joon Chang and published by Anthem Press. This book was released on 2002-07-01 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: How did the rich countries really become rich? In this provocative study, Ha-Joon Chang examines the great pressure on developing countries from the developed world to adopt certain 'good policies' and 'good institutions', seen today as necessary for economic development. His conclusions are compelling and disturbing: that developed countries are attempting to 'kick away the ladder' with which they have climbed to the top, thereby preventing developing countries from adopting policies and institutions that they themselves have used.

Contrived Competition

Author : Richard H. K. Vietor
Publisher : Harvard University Press
ISBN 13 : 9780674169623
Total Pages : 474 pages
Book Rating : 4.1/5 (696 download)

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Book Synopsis Contrived Competition by : Richard H. K. Vietor

Download or read book Contrived Competition written by Richard H. K. Vietor and published by Harvard University Press. This book was released on 1994 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: And Bank-America, caught short with bad loans and a deep recession in the early eighties, nearly failed before Sam Armacost and then Tom Clausen achieved an amazing turnaround in the mid-1980s.

The Great Inflation

Author : Michael D. Bordo
Publisher : University of Chicago Press
ISBN 13 : 0226066959
Total Pages : 545 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis The Great Inflation by : Michael D. Bordo

Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.

Regulation, Deregulation, Reregulation

Author : Alan Gart
Publisher : Wiley
ISBN 13 : 9780471580522
Total Pages : 440 pages
Book Rating : 4.5/5 (85 download)

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Book Synopsis Regulation, Deregulation, Reregulation by : Alan Gart

Download or read book Regulation, Deregulation, Reregulation written by Alan Gart and published by Wiley. This book was released on 1993-12-16 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: How insightful is Alan Gart's Regulation, Deregulation, Reregulation? "This book is a must for anyone who wishes to chart the future of a radically changing financial industry It contains the most comprehensive histories in a single source of the banking, insurance, and securities companies; what has brought them to their current strains, and what the group is likely to look like a decade from now. It looks like a winner." --Ben Weberman, Columnist Forbes magazine "[Alan Gart] gives the reader an excellent feeling of the past, which has caused the situation we are presently in, and more importantly, gives us an excellent view of the future." --L.J. "Bud" Rowell, Jr., President and CEO Provident Mutual "A valuable compendium of important events in the history of the financial services industry. No one--student, banker, or regulator--should be without it." --Irwin L. Kellner, Chief Economist Chemical Bank "A monumental effort.Alan Gart knows banking." --Terrence A. Larsen, Chairman CoreStates Financial Group "An informative, substantive, and provocative discussion of the financial services industry. This is a stimulating, even exciting, tour de force." --Leonard Berwick, Chairman/CEO First City Bankers "Regulation, Deregulation, Reregulation is an illuminating and intriguing account of the dynamics of change taking place within the financial services industry." --Larry A. Frieder, PhD, Professor of Banking Florida Agricultural and Mechanical University

Crisis and Response

Author : Federal Deposit Insurance Corporation
Publisher :
ISBN 13 : 9780966180817
Total Pages : pages
Book Rating : 4.1/5 (88 download)

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Book Synopsis Crisis and Response by : Federal Deposit Insurance Corporation

Download or read book Crisis and Response written by Federal Deposit Insurance Corporation and published by . This book was released on 2018-03-06 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Crisis and Response: An FDIC History, 2008¿2013 reviews the experience of the FDIC during a period in which the agency was confronted with two interconnected and overlapping crises¿first, the financial crisis in 2008 and 2009, and second, a banking crisis that began in 2008 and continued until 2013. The history examines the FDIC¿s response, contributes to an understanding of what occurred, and shares lessons from the agency¿s experience.

Global Waves of Debt

Author : M. Ayhan Kose
Publisher : World Bank Publications
ISBN 13 : 1464815453
Total Pages : 403 pages
Book Rating : 4.4/5 (648 download)

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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.

Regulatory Cycles: Revisiting the Political Economy of Financial Crises

Author : Jihad Dagher
Publisher : International Monetary Fund
ISBN 13 : 1484337743
Total Pages : 89 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Regulatory Cycles: Revisiting the Political Economy of Financial Crises by : Jihad Dagher

Download or read book Regulatory Cycles: Revisiting the Political Economy of Financial Crises written by Jihad Dagher and published by International Monetary Fund. This book was released on 2018-01-15 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial crises are traditionally analyzed as purely economic phenomena. The political economy of financial booms and busts remains both under-emphasized and limited to isolated episodes. This paper examines the political economy of financial policy during ten of the most infamous financial booms and busts since the 18th century, and presents consistent evidence of pro-cyclical regulatory policies by governments. Financial booms, and risk-taking during these episodes, were often amplified by political regulatory stimuli, credit subsidies, and an increasing light-touch approach to financial supervision. The regulatory backlash that ensues from financial crises can only be understood in the context of the deep political ramifications of these crises. Post-crisis regulations do not always survive the following boom. The interplay between politics and financial policy over these cycles deserves further attention. History suggests that politics can be the undoing of macro-prudential regulations.

Fragile by Design

Author : Charles W. Calomiris
Publisher : Princeton University Press
ISBN 13 : 0691168350
Total Pages : 584 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Fragile by Design by : Charles W. Calomiris

Download or read book Fragile by Design written by Charles W. Calomiris and published by Princeton University Press. This book was released on 2015-08-04 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.