Summary
Contents
Subject index
The Global Financial Crisis is undoubtedly the most severe financial crisis the world witnessed since the Great Depression of 1929. The crisis has been analysed by a number of experts offering distinct narratives and counter-narratives. Systemic Risk and Macroprudential Regulations examines causes and consequences of the global financial crisis and proposes a regulatory reforms policy macroprudential regulations. The book emphasizes ‘systemic risk’ as the new-found villain of the financial space and narrates how such risk can be addressed through macroprudential tools. It, thus, offers a possible solution to avoid financial crises in future and facilitates building a safer financial system globally. The book also examines major crisis management frameworks, stress testing, relevant regulatory and supervisory development, and early warning mechanism with detailed cross-country analysis.
Introduction
Introduction
What we know about the Global Financial Crisis is that we don't know very much.
—Paul Samuelson
The GFC, dubbed the ‘The Great Recession’, was undoubtedly the most severe financial crisis the world had witnessed since ‘The Great Depression’ of 1929. The crisis has been dissected and analysed by a number of experts offering their own distinct perspectives, narratives and counter-narratives. Notwithstanding the variety of opinions and arguments, everyone agrees that we cannot let a crisis of this magnitude, estimated at an output loss of $1.25 trillion, to go to waste and should take adequate measures to create a much more resilient financial system. This book is an attempt to combine together at one place the different ideas and thoughts propounded as the cause of the ...
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