Items related to Financial Restructuring to Sustain Recovery

Financial Restructuring to Sustain Recovery - Softcover

 
9780815725244: Financial Restructuring to Sustain Recovery

Synopsis

How much financial regulation will adequately reduce future systemic threats to the financial sector? To what extent can international authorities legally oversee the financial activities and outcomes of other transnational entities? Can macroprudential policy be aligned successfully with monetary policy to weather another boom-bust cycle?

Editors Martin Neil Baily, Yasuyuki Fuchita, and Richard Herring envision a global policy response to the financial crisis, designed to maintain sector-wide economic growth and improve profitability, rather than a response limited to secure only the strength of individual banks and nonbanks. This volume outlines how to manage factors that can endanger the financial system: how to prevent fluctuations in global capital flows; when to apply capital injection; and how to design incentives to avoid default on debt. "Financial Restructuring to Sustain Recovery" underscores the imperative of resolution procedures that reinforce sound financial governance, particularly in an effort to stave off future financial crises.

Contributors include Yuta Seki (Nomura Institute of Capital Markets Research), Kei Kodachi (Nomura Institute of Capital Markets Research), Franklin Allen (The Wharton School, University of Pennsylvania), James Barth (Auburn University College of Business; Milken Institute), Glenn Yago (Milken Institute), David Skeel (University of Pennsylvania Law School), Thomas Jackson (Simon School of Business, University of Rochester), Jay Ritter (Warrington College of Business, University of Florida).

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About the Author

Martin Neil Baily is a senior fellow in Economic Studies and the director of the Business and Public Policy Initiative at Brookings. He was chairman of the Council of Economic Advisers from 1999 to 2001. Yasuyuki Fuchita is a senior managing director at the Nomura Institute of Capital Markets Research in Tokyo. Richard J. Herring is the Jacob Safra Professor of International Banking and professor of finance at the Wharton School, University of Pennsylvania, where he is also codirector of the Wharton Financial Institutions Center.

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