Principles of Financial Regulation
John Armour, Dan Awrey, Paul Davies, Luca Enriques, Jeffrey N. Gordon, Colin Mayer, and Jennifer Payne
Abstract
The financial crisis of 2007–9 revealed serious failings in the regulation of financial institutions and markets. Prompting a fundamental reconsideration of the design of financial regulation, the financial system has become ever more complex and interconnected, and the pace of evolution continues to accelerate. It is now clear that regulation must focus on the financial system as a whole, but this poses significant challenges for regulators. This book describes how to address those challenges. Examining the subject from a holistic and multidisciplinary perspective, the book considers the unde ... More
The financial crisis of 2007–9 revealed serious failings in the regulation of financial institutions and markets. Prompting a fundamental reconsideration of the design of financial regulation, the financial system has become ever more complex and interconnected, and the pace of evolution continues to accelerate. It is now clear that regulation must focus on the financial system as a whole, but this poses significant challenges for regulators. This book describes how to address those challenges. Examining the subject from a holistic and multidisciplinary perspective, the book considers the underlying policies and the objectives of regulation by drawing on economics, finance, and law methodologies. The volume examines regulation in a purposive and dynamic way by framing the book in terms of what the financial system does, rather than what financial regulation is. By analysing specific regulatory measures, the book provides readers with the opportunity to assess regulatory choices on specific policy issues and encourages critical reflection on the design of regulation.
Keywords:
financial crisis,
financial regulation,
financial system,
policy issues,
design of regulation,
financial institutions,
financial markets
Bibliographic Information
| Print publication date: 2016 |
Print ISBN-13: 9780198786474 |
| Published to Oxford Scholarship Online: October 2016 |
DOI:10.1093/acprof:oso/9780198786474.001.0001 |
Authors
Affiliations are at time of print publication.
John Armour, author
Hogan Lovells Professor of Law and Finance, University of Oxford
Dan Awrey, author
Associate Professor of Law and Finance and Academic Director of the MSc in Law and Finance programme, University of Oxford
Paul Davies, author
Senior Research Fellow, Harris Manchester College, University of Oxford
Luca Enriques, author
Allen & Overy Professor of Corporate Law, University of Oxford
Jeffrey N. Gordon, author
Richard Paul Richman Professor of Law, Columbia Law School and Co-Director of the Richman Center for Business, Law, and Public Policy and the Millstein Center for Global Markets and Corporate Ownership
Colin Mayer, author
Peter Moores Professor of Management Studies, Saïd Business School, University of Oxford
Jennifer Payne, author
Professor of Corporate Finance Law, University of Oxford
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