Principles of Financial Regulation

John Armour, Dan Awrey, Paul Davies, Jeffrey Gordon, Colin Mayer, Jennifer Payne

Series number :

Serial Number:

277/2014

Date posted :

December 01 2014

Last revised :

December 20 2014

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Keywords

financial regulation •
financial crisis •
banking regulation •
securities regulation •
financial markets •
Shadow Banking •
Macro-Prudential Regulation •
Principles of FinancialRegulation

Inadequate regulation of the financial system is widely thought to have contributed to the financial crisis. The purpose of the book is to articulate a framework within which financial regulation can be analysed in a coherent and comprehensive fashion. The book?s approach is distinctive in several respects.

First, it views the subject from a multidisciplinary perspective of economics, finance and law. Second, it takes a holistic approach, starting from the premise that financial regulation is best understood in the context of an appreciation of the entire financial system. Third it is international and comparative in nature, contrasting approaches, in particular in the EU and US. The book focuses on underlying policies and the objectives of regulation, using specific regulatory measures as examples. This allows the reader to compare choices in respect of the same policy issue in different regulatory frameworks. This introductory chapter sets out the motivation for the project and outlines the book?s analytic framework and contents.

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