Research Article
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Year 2020, , 320 - 335, 31.12.2020

Serkan Sengul

https://doi.org/10.17261/Pressacademia.2020.1313

Abstract

References

  • Allen, B., Chan K.K., Milne, A. Thomas, T., (2012). Basel II: Is the cure worse than the disease? International Review of Financial Analysis, 25, 159 – 166.
  • Acharya, V. V., D. Anginer, and A. J. Warburton, (2016). The end of market discipline? investor expectations of implicit government guarantees. Available at SSRN: https://ssrn.com/abstract=1961656 or http://dx.doi.org/10.2139/ssrn.1961656
  • Atkinson, T., Lutterell, D. and Rosenblum, H. (2013). How bad was it? The costs and consequences of the 2007–09 financial crisis, Staff Papers, No. 20, Federal Reserve Bank of Dallas, Dallas.
  • Baker, A. (2015). Varieties of Economic Crisis, Varieties of Ideational Change: How and Why Financial Regulation and Macroeconomic Policy Differ, New Political Economy, 20:3, 342-366.
  • Balasubramnian, B. and Cyree, K.B. (2014). Has market discipline on banks improved after the Dodd–Frank Act?, Journal of Banking & Finance, Vol. 41, 155–166.
  • Basel Committee on Banking Supervision (BCBS). (2014). Basel III: The Net Stable Funding Ratio, October.
  • Beck, T., Chen, T. and Song, F. (2016). Financial Innovation: The Bright and the Dark Sides, Journal of Banking & Finance, Vol. 72, issue C, 28-51.
  • Berger, A.N. and Bouwman, C.H.S. (2013). How does capital affect bank performance during financial crises?, Journal of Financial Economics, Vol. 109, 146-176.
  • Berube, G. (2013). Basel III and pension funds: What lies ahead, http://www.benefitscanada.com/pensions/db/basel-iii-and-pension-funds-what-lies-ahead-36852 (10.08.2017).
  • BIS. (2011). Basel III: A global regulatory framework for more resilient banks and banking systems, Bank for International Settlements (BIS), Basel. Available from: http://www.bis.org/publ/bcbs189.pdf (10.08.2017).
  • BIS. (2011). Basel III Monitoring Report, Bank for International Settlements (BIS), February, Basel. Available from: http://www.bis.org/bcbs/publ/d397.pdf (10.08.2017).
  • Borio, C. (2012). The financial cycle and macroeconomics: What have we learnt? BIS Working Papers, No: 395, Basel, 1-32.
  • Cerrato, M., Choudhry, M., Crosby, J. and Olukuru, J. (2012). Why do UK banks securitize?, DOI: 10.2139/ssrn.2051379, 1-36.
  • Choi, Y. J. (2013). The Global Financial Crisis Revisited: Competition and Regulation, Global Economic Review: Perspectives on East Asian Economies and Industries, 42:4, 362-381.
  • Chwieroth, J. (2011). The crisis in global finance: political economy perspectives on international financial regulatory change. In: Center for International Affairs, (corp. ed.) Beyond national boundaries: building a world without walls. Academy of Korean Studies Press, Seoul.
  • Cihak, M., Demirgüç-Kunt, A., Feyen, E. and Levine, R. (2012). Benchmarking Financial Systems Around the World, World Bank Policy Research Working Paper, 6175, World Bank, Washington, D.C.
  • Claessens, S. and Kodres, L. (2014). The Regulatory Responses to the Global Financial Crisis: Some Uncomfortable Questions, IMF Working Paper: WP/14/46, 1-39.
  • Cohen, B.H. (2013). How have banks adjusted to higher capital requirements?, BIS Quarterly Review, September 2013, 25-41.
  • Cull, R and Martínez-Pería, M. (2013). Bank ownership and lending patterns during the 2008–2009 financial crisis: evidence from Latin America and Eastern Europe, Journal of Banking & Finance, vol 37, no 12, pp 4861–78.
  • Davis, K. (2009). Financial Regulation after the Global Financial Crisis, The Australian Economic Review, 42/4, 453-456.
  • Deloitte. (2015). New strategies in a changing world of bank regulation, https://www2.deloitte.com/content/dam/Deloitte/es/Documents/servicios-financieros/Deloitte_ES_Servicios_Fianncieros_new-strategies-changing-world-of-bank-regulation.pdf, Deloitte Banking Union, Frankfurt.
  • Duffie, D. (2016). Financial regulatory reform after the crisis: an assessment, ECB Forum on Central Banking, 27-29 June 2016, 1-45.
  • Edgar, R.J. (2009). The Future of Financial Regulation: Lessons from the Global Financial Crisis, The Australian Economic Review, Vol. 42, No. 4, 470-476.
  • Ennis, S., Kirkpatrick, G., Lloyd, G. and Lumpkin, S. (2009). The Financial Crisis: Reform and Exit Strategies, OECD Publications, New York.
  • Erturk, I. (2016). Financialization, bank business models and the limits of post-crisis bank regulation, Journal of Banking Regulation, Vol. 17, 1/2, 60–72.
  • ESRB. (2014). Is Europe Overbanked?, European Systemic Risk Board Advisory Scientific Committee, ASC Report, No: 4.
  • Finance-Watch. (2017). Money Market Funds Key Issues, http://www.finance-watch.org/our-work/dossiers?fid=153&keyissues=1 (12.08.2017).
  • Financial Stability Board. (2011). Shadow Banking: Strengthening Oversight and Regulation, Recommendations of the Financial Stability Board, October, 1-39.
  • Financial Stability Board. (2017). Implementation and effects of the G20 financial regulatory reforms, Report of the Financial Stability Board to G20 Leaders, July, Basel.
  • Friedman, J. and Kraus, W. (2011). Engineering the Financial Crisis: Systemic Risk and the Failure of Regulation, University of Pennsylvania Press, Pennsylvania.
  • Gilad, S. (2015). Political Pressures, Organizational Identity, and Attention to Tasks: Illustrations From Pre-Crisis Financial Regulation, Public Administration, Vol. 93, Issue 3, 593-608.
  • Giordana, G. A. and Schumacher, I. (2017). An Empirical Study on the Impact of Basel III Standards on Banks’ Default Risk: The Case of Luxembourg, Journal of Risk and Financial Management, Vol. 10, 1-21.
  • Giordana, G. A. and Schumacher, I. (2013). Bank liquidity risk and monetary policy: Empirical evidence on the impact of Basel III liquidity standards, International Review of Applied Economics, Vol.27, 633-655.
  • Glinavos, I. (2014). Redefining the Market–State Relationship Responses to the financial crisis and the future of regulation, Routledge, New York.
  • Greenman, P.S. and Osborn, J.W. (2012). Regulation of Over-the-Counter Derivatives Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, Capital Markets, https://www.skadden.com/ (15.08.2017).
  • Gudmundsson, B.R. (2015). Financialisation and Financial Crisis in Iceland, Working Paper, No. 55/2015, Institute for International Political Economy, Berlin.
  • Harari, D. (2017). Household debt: statistics and impact on economy, House of Commons Library, Briefing Paper, Number 7584, 1-23.
  • Hessou, H. and Lai, V.S. (2017). Basel III capital buffer requirements and credit union prudential regulation, Journal of Financial Stability, DOI: http://dx.doi.org/doi:10.1016/j.jfs.2017.05.002, 1-51.
  • International Monetary Fund. (2017). Global Financial Stability Report. Is Growth at Risk? Washington D.C. October.
  • Kim,T., Koo, B. and Park, M. (2012). Role of financial regulation and innovation in the financial crisis, Journal of Financial Stability, DOI: http://dx.doi.org/10.1016/j.jfs.2012.07.002, 1-11.
  • Krainer, R.E. (2012). Regulating Wall Street: The Dodd–Frank Act and the New Architecture of Global Finance, a review, Journal of Financial Stability, Vol: 8, 121-133.
  • Kroszner, R.S. (2010). Making Markets More Robust, (in) Kroszner, R.S., Shiller, R.J. and Friedman, B.M., Reforming U.S. Financial Markets, The MIT Press, Massachusetts, 58-83.
  • Lapteacru, I. (2016). On the consistency of the -score to measure the bank risk, LAREFI Universite de Bordeaux, Working Paper, N°2016-05, 1-36.
  • Lothian, T. (2012). Beyond macroprudential regulation: Three ways of thinking about financial crisis, regulation and reform, Global Policy, doi: 10.1111/j.1758-5899.2011.00167.x, 1-11.
  • Mavroudeas, S.D. and Papadatos, D. (2012). Financial regulation in the light of the current global economic crisis, International Critical Thought, 2/4, 486-499.
  • Merrouche, O. and Nier, E. (2010). What Caused the Global Financial Crisis?-Evidence on the Drivers of Financial Imbalances 1999–2007, Working Paper: WP/10/265, IMF Working Papers, Washington, DC.
  • Nolle, D.E. (2012). Global financial system reform: the Dodd#Frank Act and the G20 agenda, Journal of Financial Economic Policy, Vol. 4:2, 160-197.
  • Pirrong, R.E. (2011). Commodity Market Regulation After Financial Crisis: A Comparative Approach, Economic Affairs, Vol: 31, 41-46.
  • Rossi, S., Borroni, M., Lippi, M. and Piva, M. (2018). Determinants of Bank Profitability in the Euro Area: What Has Changed During the Recent Financial Crisis?, International Business Research, Vol. 11, No. 5, 18-27.
  • Quaglia, L. (2013). Financial regulation and supervision in the European Union after the crisis, Journal of Economic Policy Reform, Vol: 16:1, 17-30
  • Rubio, M. and Carrasco-Gallego, J.A. (2016). The New Financial Regulation in Basel III and Monetary Policy: A Macroprudential Approach, Journal of Financial Stability, DOI: http://dx.doi.org/doi:10.1016/j.jfs.2016.07.012, 1-32.
  • Sanders, B.C. (2013). Financial Regulatory Reform: Benefits, Costs, and Challenges of the Dodd-Frank Act, Nova Science Publishers, New York.
  • Schultz, P.H. (2014). Perspectives on Dodd–Frank and Finance, MIT Press, Massachusetts.
  • Scott, H.S. (2010). Systemic Risk Reduction, (in) Kroszner, R.S., Shiller, R.J. and Friedman, B.M. (Eds.) Reforming U.S. Financial Markets, The MIT Press, Massachusetts, 110-117.
  • Seibt, C.H. and Schwarz, S. (2011). European financial market regulation in the wake of the financial crisis: a functional approach, China-EU Law Journal, Vol.1, 95-118.
  • Shaikh, A. (2011). The first great depression of the 21st century, Socialist Register, Vol. 7, 44–63.
  • Shiller, R.J. (2010). Democratizing and Humanizing Finance , (in) Kroszner, R.S., Shiller, R.J. and Friedman, B.M. (Eds.) Reforming U.S. Financial Markets, The MIT Press, Massachusetts, 1-49.
  • Sironi, A. (2018). The Evolution of Banking Regulation Since the Financial Crisis: A Critical Assessment (November 2018). BAFFI CAREFIN Centre Research Paper, No. 2018-103, 1-60, Available at SSRN: https://ssrn.com/abstract=3304672
  • Stiglitz, J. E. (2010). The Stiglitz Report: Reforming the International Monetary and Financial Systems in the Wake of the Global Crisis, The New Press, New York.
  • Stöhr, A. (2015). Approaches to financial regulation in view of the crisis, Journal of Financial Regulation and Compliance, Vol. 23 Issue: 1, 73-83.
  • Stremmel, H. and Zsamboki, B. (2015). The relationship between structural and cyclical features of the EU financial sector, ECB Working Paper No: 1812, 1-32.
  • Teixeira, J.C.A., Silva, J.F., Fernandes, A.V. and Alves, A.C. (2014). Banks’ capital, regulation and the financial crisis, North American Journal of Economics and Finance, Vol: 28, 1-26.
  • Tian, W. (2017). Commercial Banking Risk Management: Regulation in the Wake of the Financial Crisis, Palgrave Macmillan, New York.
  • United Nations. (2015). Financial Regulatory Reform after the Crisis: Making the international financial architecture work for development, Report of United Nations Conference on Trade and Development, 2015, Geneva.
  • Vazquez, F. and Federico, P. (2012). Bank Funding Structures and Risk: Evidence from the Global Financial Crisis, IMF Working Paper, WP/12/29, 1-22.
  • Werner, R.A. (2014). Can banks individually create money out of nothing? — The theories and the empirical evidence, International Review of Financial Analysis, Vol. 36, 1-19
  • World Bank. (2006). Measuring banking sector development, Financial Sector Indicators Note: 1, World Bank Financial Sector Operations and Policy Office, Washington DC

FINANCIAL REGULATIONS AND RISK IN THE CONTEXT OF THE GLOBAL RECESSION

Year 2020, , 320 - 335, 31.12.2020

Serkan Sengul

https://doi.org/10.17261/Pressacademia.2020.1313

Abstract

Purpose- The purpose of this paper is to examine the effects of regulations on the risk during the 2008 financial crisis. In other words, , the causes of the 2008 financial crisis are presented and the main reforms made in the field of international banking after the financial crisis and their effects are offered.
Methodology- This study is a comparative situation analysis by using the data of Germany, United Kingdom, United States, EU Area and World.
Findings- In order to cope with the effects of the crisis, the United States, Europe and other major economies, which constitute the basis of international financial architecture, have started to take measures rapidly. Priority has been given to eliminating the effects of the crisis on financial markets, and measures have been taken to create a new and strong financial architecture and restore financial stability. This study analyzes these measures and their effects on the economy.
Conclusion- After extensive arrangements, the banking sector recorded a significant increase in the amount and quality of capital. This success was mostly achieved with capital increases. The same positive situation is true for liquidity. This is seen not only in the improvement of the main liquidity ratios but also in the reduction of the simple ratio between loans and deposits. The obligation to provide bail for the liabilities of banks reduces the possibility that the banks will be supported by the government through bail in a future crisis.

Keywords

Global recession financial regulations financial risk financial markets

References

  • Allen, B., Chan K.K., Milne, A. Thomas, T., (2012). Basel II: Is the cure worse than the disease? International Review of Financial Analysis, 25, 159 – 166.
  • Acharya, V. V., D. Anginer, and A. J. Warburton, (2016). The end of market discipline? investor expectations of implicit government guarantees. Available at SSRN: https://ssrn.com/abstract=1961656 or http://dx.doi.org/10.2139/ssrn.1961656
  • Atkinson, T., Lutterell, D. and Rosenblum, H. (2013). How bad was it? The costs and consequences of the 2007–09 financial crisis, Staff Papers, No. 20, Federal Reserve Bank of Dallas, Dallas.
  • Baker, A. (2015). Varieties of Economic Crisis, Varieties of Ideational Change: How and Why Financial Regulation and Macroeconomic Policy Differ, New Political Economy, 20:3, 342-366.
  • Balasubramnian, B. and Cyree, K.B. (2014). Has market discipline on banks improved after the Dodd–Frank Act?, Journal of Banking & Finance, Vol. 41, 155–166.
  • Basel Committee on Banking Supervision (BCBS). (2014). Basel III: The Net Stable Funding Ratio, October.
  • Beck, T., Chen, T. and Song, F. (2016). Financial Innovation: The Bright and the Dark Sides, Journal of Banking & Finance, Vol. 72, issue C, 28-51.
  • Berger, A.N. and Bouwman, C.H.S. (2013). How does capital affect bank performance during financial crises?, Journal of Financial Economics, Vol. 109, 146-176.
  • Berube, G. (2013). Basel III and pension funds: What lies ahead, http://www.benefitscanada.com/pensions/db/basel-iii-and-pension-funds-what-lies-ahead-36852 (10.08.2017).
  • BIS. (2011). Basel III: A global regulatory framework for more resilient banks and banking systems, Bank for International Settlements (BIS), Basel. Available from: http://www.bis.org/publ/bcbs189.pdf (10.08.2017).
  • BIS. (2011). Basel III Monitoring Report, Bank for International Settlements (BIS), February, Basel. Available from: http://www.bis.org/bcbs/publ/d397.pdf (10.08.2017).
  • Borio, C. (2012). The financial cycle and macroeconomics: What have we learnt? BIS Working Papers, No: 395, Basel, 1-32.
  • Cerrato, M., Choudhry, M., Crosby, J. and Olukuru, J. (2012). Why do UK banks securitize?, DOI: 10.2139/ssrn.2051379, 1-36.
  • Choi, Y. J. (2013). The Global Financial Crisis Revisited: Competition and Regulation, Global Economic Review: Perspectives on East Asian Economies and Industries, 42:4, 362-381.
  • Chwieroth, J. (2011). The crisis in global finance: political economy perspectives on international financial regulatory change. In: Center for International Affairs, (corp. ed.) Beyond national boundaries: building a world without walls. Academy of Korean Studies Press, Seoul.
  • Cihak, M., Demirgüç-Kunt, A., Feyen, E. and Levine, R. (2012). Benchmarking Financial Systems Around the World, World Bank Policy Research Working Paper, 6175, World Bank, Washington, D.C.
  • Claessens, S. and Kodres, L. (2014). The Regulatory Responses to the Global Financial Crisis: Some Uncomfortable Questions, IMF Working Paper: WP/14/46, 1-39.
  • Cohen, B.H. (2013). How have banks adjusted to higher capital requirements?, BIS Quarterly Review, September 2013, 25-41.
  • Cull, R and Martínez-Pería, M. (2013). Bank ownership and lending patterns during the 2008–2009 financial crisis: evidence from Latin America and Eastern Europe, Journal of Banking & Finance, vol 37, no 12, pp 4861–78.
  • Davis, K. (2009). Financial Regulation after the Global Financial Crisis, The Australian Economic Review, 42/4, 453-456.
  • Deloitte. (2015). New strategies in a changing world of bank regulation, https://www2.deloitte.com/content/dam/Deloitte/es/Documents/servicios-financieros/Deloitte_ES_Servicios_Fianncieros_new-strategies-changing-world-of-bank-regulation.pdf, Deloitte Banking Union, Frankfurt.
  • Duffie, D. (2016). Financial regulatory reform after the crisis: an assessment, ECB Forum on Central Banking, 27-29 June 2016, 1-45.
  • Edgar, R.J. (2009). The Future of Financial Regulation: Lessons from the Global Financial Crisis, The Australian Economic Review, Vol. 42, No. 4, 470-476.
  • Ennis, S., Kirkpatrick, G., Lloyd, G. and Lumpkin, S. (2009). The Financial Crisis: Reform and Exit Strategies, OECD Publications, New York.
  • Erturk, I. (2016). Financialization, bank business models and the limits of post-crisis bank regulation, Journal of Banking Regulation, Vol. 17, 1/2, 60–72.
  • ESRB. (2014). Is Europe Overbanked?, European Systemic Risk Board Advisory Scientific Committee, ASC Report, No: 4.
  • Finance-Watch. (2017). Money Market Funds Key Issues, http://www.finance-watch.org/our-work/dossiers?fid=153&keyissues=1 (12.08.2017).
  • Financial Stability Board. (2011). Shadow Banking: Strengthening Oversight and Regulation, Recommendations of the Financial Stability Board, October, 1-39.
  • Financial Stability Board. (2017). Implementation and effects of the G20 financial regulatory reforms, Report of the Financial Stability Board to G20 Leaders, July, Basel.
  • Friedman, J. and Kraus, W. (2011). Engineering the Financial Crisis: Systemic Risk and the Failure of Regulation, University of Pennsylvania Press, Pennsylvania.
  • Gilad, S. (2015). Political Pressures, Organizational Identity, and Attention to Tasks: Illustrations From Pre-Crisis Financial Regulation, Public Administration, Vol. 93, Issue 3, 593-608.
  • Giordana, G. A. and Schumacher, I. (2017). An Empirical Study on the Impact of Basel III Standards on Banks’ Default Risk: The Case of Luxembourg, Journal of Risk and Financial Management, Vol. 10, 1-21.
  • Giordana, G. A. and Schumacher, I. (2013). Bank liquidity risk and monetary policy: Empirical evidence on the impact of Basel III liquidity standards, International Review of Applied Economics, Vol.27, 633-655.
  • Glinavos, I. (2014). Redefining the Market–State Relationship Responses to the financial crisis and the future of regulation, Routledge, New York.
  • Greenman, P.S. and Osborn, J.W. (2012). Regulation of Over-the-Counter Derivatives Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, Capital Markets, https://www.skadden.com/ (15.08.2017).
  • Gudmundsson, B.R. (2015). Financialisation and Financial Crisis in Iceland, Working Paper, No. 55/2015, Institute for International Political Economy, Berlin.
  • Harari, D. (2017). Household debt: statistics and impact on economy, House of Commons Library, Briefing Paper, Number 7584, 1-23.
  • Hessou, H. and Lai, V.S. (2017). Basel III capital buffer requirements and credit union prudential regulation, Journal of Financial Stability, DOI: http://dx.doi.org/doi:10.1016/j.jfs.2017.05.002, 1-51.
  • International Monetary Fund. (2017). Global Financial Stability Report. Is Growth at Risk? Washington D.C. October.
  • Kim,T., Koo, B. and Park, M. (2012). Role of financial regulation and innovation in the financial crisis, Journal of Financial Stability, DOI: http://dx.doi.org/10.1016/j.jfs.2012.07.002, 1-11.
  • Krainer, R.E. (2012). Regulating Wall Street: The Dodd–Frank Act and the New Architecture of Global Finance, a review, Journal of Financial Stability, Vol: 8, 121-133.
  • Kroszner, R.S. (2010). Making Markets More Robust, (in) Kroszner, R.S., Shiller, R.J. and Friedman, B.M., Reforming U.S. Financial Markets, The MIT Press, Massachusetts, 58-83.
  • Lapteacru, I. (2016). On the consistency of the -score to measure the bank risk, LAREFI Universite de Bordeaux, Working Paper, N°2016-05, 1-36.
  • Lothian, T. (2012). Beyond macroprudential regulation: Three ways of thinking about financial crisis, regulation and reform, Global Policy, doi: 10.1111/j.1758-5899.2011.00167.x, 1-11.
  • Mavroudeas, S.D. and Papadatos, D. (2012). Financial regulation in the light of the current global economic crisis, International Critical Thought, 2/4, 486-499.
  • Merrouche, O. and Nier, E. (2010). What Caused the Global Financial Crisis?-Evidence on the Drivers of Financial Imbalances 1999–2007, Working Paper: WP/10/265, IMF Working Papers, Washington, DC.
  • Nolle, D.E. (2012). Global financial system reform: the Dodd#Frank Act and the G20 agenda, Journal of Financial Economic Policy, Vol. 4:2, 160-197.
  • Pirrong, R.E. (2011). Commodity Market Regulation After Financial Crisis: A Comparative Approach, Economic Affairs, Vol: 31, 41-46.
  • Rossi, S., Borroni, M., Lippi, M. and Piva, M. (2018). Determinants of Bank Profitability in the Euro Area: What Has Changed During the Recent Financial Crisis?, International Business Research, Vol. 11, No. 5, 18-27.
  • Quaglia, L. (2013). Financial regulation and supervision in the European Union after the crisis, Journal of Economic Policy Reform, Vol: 16:1, 17-30
  • Rubio, M. and Carrasco-Gallego, J.A. (2016). The New Financial Regulation in Basel III and Monetary Policy: A Macroprudential Approach, Journal of Financial Stability, DOI: http://dx.doi.org/doi:10.1016/j.jfs.2016.07.012, 1-32.
  • Sanders, B.C. (2013). Financial Regulatory Reform: Benefits, Costs, and Challenges of the Dodd-Frank Act, Nova Science Publishers, New York.
  • Schultz, P.H. (2014). Perspectives on Dodd–Frank and Finance, MIT Press, Massachusetts.
  • Scott, H.S. (2010). Systemic Risk Reduction, (in) Kroszner, R.S., Shiller, R.J. and Friedman, B.M. (Eds.) Reforming U.S. Financial Markets, The MIT Press, Massachusetts, 110-117.
  • Seibt, C.H. and Schwarz, S. (2011). European financial market regulation in the wake of the financial crisis: a functional approach, China-EU Law Journal, Vol.1, 95-118.
  • Shaikh, A. (2011). The first great depression of the 21st century, Socialist Register, Vol. 7, 44–63.
  • Shiller, R.J. (2010). Democratizing and Humanizing Finance , (in) Kroszner, R.S., Shiller, R.J. and Friedman, B.M. (Eds.) Reforming U.S. Financial Markets, The MIT Press, Massachusetts, 1-49.
  • Sironi, A. (2018). The Evolution of Banking Regulation Since the Financial Crisis: A Critical Assessment (November 2018). BAFFI CAREFIN Centre Research Paper, No. 2018-103, 1-60, Available at SSRN: https://ssrn.com/abstract=3304672
  • Stiglitz, J. E. (2010). The Stiglitz Report: Reforming the International Monetary and Financial Systems in the Wake of the Global Crisis, The New Press, New York.
  • Stöhr, A. (2015). Approaches to financial regulation in view of the crisis, Journal of Financial Regulation and Compliance, Vol. 23 Issue: 1, 73-83.
  • Stremmel, H. and Zsamboki, B. (2015). The relationship between structural and cyclical features of the EU financial sector, ECB Working Paper No: 1812, 1-32.
  • Teixeira, J.C.A., Silva, J.F., Fernandes, A.V. and Alves, A.C. (2014). Banks’ capital, regulation and the financial crisis, North American Journal of Economics and Finance, Vol: 28, 1-26.
  • Tian, W. (2017). Commercial Banking Risk Management: Regulation in the Wake of the Financial Crisis, Palgrave Macmillan, New York.
  • United Nations. (2015). Financial Regulatory Reform after the Crisis: Making the international financial architecture work for development, Report of United Nations Conference on Trade and Development, 2015, Geneva.
  • Vazquez, F. and Federico, P. (2012). Bank Funding Structures and Risk: Evidence from the Global Financial Crisis, IMF Working Paper, WP/12/29, 1-22.
  • Werner, R.A. (2014). Can banks individually create money out of nothing? — The theories and the empirical evidence, International Review of Financial Analysis, Vol. 36, 1-19
  • World Bank. (2006). Measuring banking sector development, Financial Sector Indicators Note: 1, World Bank Financial Sector Operations and Policy Office, Washington DC
There are 67 citations in total.

Details

Primary Language English
Subjects Economics, Finance, Business Administration
Journal Section Articles
Authors

Serkan Sengul 0000-0001-9891-9477

Publication Date December 31, 2020
Published in Issue Year 2020

Cite

APA Sengul, S. (2020). FINANCIAL REGULATIONS AND RISK IN THE CONTEXT OF THE GLOBAL RECESSION. Journal of Business Economics and Finance, 9(4), 320-335. https://doi.org/10.17261/Pressacademia.2020.1313

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