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Balancing the banks : global lessons from the financial crisis /
Mathias Dewatripont, Jean-Charles Rochet, and Jean Tirole ; translated by Keith Tribe.
imprint
Princeton : Princeton University Press, c2010.
description
138 p.
ISBN
0691145237 (hbk. : alk. paper), 9780691145235 (hbk. : alk. paper)
format(s)
Book
Holdings
More Details
imprint
Princeton : Princeton University Press, c2010.
isbn
0691145237 (hbk. : alk. paper)
9780691145235 (hbk. : alk. paper)
catalogue key
7146469
 
Includes bibliographical references (p. [131]-136) and index.
A Look Inside
Excerpts
Flap Copy
"Three giants in the field have teamed up to offer their insightful perspectives on prudential regulation at a crucial time. The book is both academic and pragmatic, a real bridge between these two worlds. Mandatory reading for all policymakers and academics involved in the difficult subjects of banking regulation and crisis prevention."-- Ricardo Caballero, Massachusetts Institute of Technology "This is a very good book on the financial crisis by three of the best economists in the world. Unusually among top economists, all three are knowledgeable about banking and the financial system. It will have an important impact on the debate about the reform of regulation."-- Franklin Allen, Wharton School, University of Pennsylvania "This timely book provides valuable insights and suggestions from three of the foremost experts in the field of regulation."-- Markus K. Brunnermeier, Princeton University "This book offers a clear analysis of the financial crisis: causes, mechanisms, and policy. Written by top experts in economics and prudential regulation, it will be read by many economists and graduate students, as well as journalists, policymakers, the general public, and advanced undergraduate students. The scholarship is top-notch."-- Xavier Gabaix, New York University
Flap Copy
"Three giants in the field have teamed up to offer their insightful perspectives on prudential regulation at a crucial time. The book is both academic and pragmatic, a real bridge between these two worlds. Mandatory reading for all policymakers and academics involved in the difficult subjects of banking regulation and crisis prevention."--Ricardo Caballero, Massachusetts Institute of Technology "This is a very good book on the financial crisis by three of the best economists in the world. Unusually among top economists, all three are knowledgeable about banking and the financial system. It will have an important impact on the debate about the reform of regulation."--Franklin Allen, Wharton School, University of Pennsylvania "This timely book provides valuable insights and suggestions from three of the foremost experts in the field of regulation."--Markus K. Brunnermeier, Princeton University "This book offers a clear analysis of the financial crisis: causes, mechanisms, and policy. Written by top experts in economics and prudential regulation, it will be read by many economists and graduate students, as well as journalists, policymakers, the general public, and advanced undergraduate students. The scholarship is top-notch."--Xavier Gabaix, New York University
Flap Copy
"Three giants in the field have teamed up to offer their insightful perspectives on prudential regulation at a crucial time. The book is both academic and pragmatic, a real bridge between these two worlds. Mandatory reading for all policymakers and academics involved in the difficult subjects of banking regulation and crisis prevention."--Ricardo Caballero, Massachusetts Institute of Technology"This is a very good book on the financial crisis by three of the best economists in the world. Unusually among top economists, all three are knowledgeable about banking and the financial system. It will have an important impact on the debate about the reform of regulation."--Franklin Allen, Wharton School, University of Pennsylvania"This timely book provides valuable insights and suggestions from three of the foremost experts in the field of regulation."--Markus K. Brunnermeier, Princeton University"This book offers a clear analysis of the financial crisis: causes, mechanisms, and policy. Written by top experts in economics and prudential regulation, it will be read by many economists and graduate students, as well as journalists, policymakers, the general public, and advanced undergraduate students. The scholarship is top-notch."--Xavier Gabaix, New York University
Full Text Reviews
Appeared in Choice on 2010-09-01:
This compact (only 130 pages) but powerful book by three internationally recognized European economists is well worth reading (Dewatripont and Tirole also authored the fundamental The Prudential Regulation of Banks, 1994). The authors offer a thoughtful review of the current global financial crisis and a number of considered recommendations for ameliorating the next and inevitable one. Tirole's chapter 2, "Lessons from the Crisis," which encompasses almost half the book, is especially informative. The last chapter considers ways to deal with distressed banks. Readers will benefit most if they are familiar with modern financial institutions and instruments. Summing Up: Highly recommended. Upper-division undergraduate through professional collections. J. Prager New York University
Reviews
Review Quotes
Balancing the Banks , by three French economists, focuses on what went wrong with financial regulation and how it can be strengthened. It offers an excellent appreciation of the intrinsic dilemmas involved in regulating financial institutions, along with an explanation of why regulation is necessary, and addresses, among other topics, how to deal with distressed banks. The book provides a useful non-American view of the financial system, with lessons from practices in European countries.
" Balancing the Banks , by three French economists, focuses on what went wrong with financial regulation and how it can be strengthened. It offers an excellent appreciation of the intrinsic dilemmas involved in regulating financial institutions, along with an explanation of why regulation is necessary, and addresses, among other topics, how to deal with distressed banks. The book provides a useful non-American view of the financial system, with lessons from practices in European countries."-- Foreign Affairs
Balancing the Banks , by three French economists, focuses on what went wrong with financial regulation and how it can be strengthened. It offers an excellent appreciation of the intrinsic dilemmas involved in regulating financial institutions, along with an explanation of why regulation is necessary, and addresses, among other topics, how to deal with distressed banks. The book provides a useful non-American view of the financial system, with lessons from practices in European countries. -- Foreign Affairs
This compact but powerful book by three internationally recognized European economists is well worth reading. The authors offer a thoughtful review of the current global financial crisis and a number of considered recommendations for ameliorating the next and inevitable one.
"This compact but powerful book by three internationally recognized European economists is well worth reading. The authors offer a thoughtful review of the current global financial crisis and a number of considered recommendations for ameliorating the next and inevitable one."-- Choice
This compact but powerful book by three internationally recognized European economists is well worth reading. The authors offer a thoughtful review of the current global financial crisis and a number of considered recommendations for ameliorating the next and inevitable one. -- Choice
This book offers a clear analysis of the financial crisis: causes, mechanisms, and policy. Written by top experts in economics and prudential regulation, it will be read by many economists and graduate students, as well as journalists, policymakers, the general public, and advanced undergraduate students. The scholarship is top-notch.
This is a very good book on the financial crisis by three of the best economists in the world. Unusually among top economists, all three are knowledgeable about banking and the financial system. It will have an important impact on the debate about the reform of regulation.
This timely book provides valuable insights and suggestions from three of the foremost experts in the field of regulation.
Three giants in the field have teamed up to offer their insightful perspectives on prudential regulation at a crucial time. The book is both academic and pragmatic, a real bridge between these two worlds. Mandatory reading for all policymakers and academics involved in the difficult subjects of banking regulation and crisis prevention.
This item was reviewed in:
Choice, September 2010
To find out how to look for other reviews, please see our guides to finding book reviews in the Sciences or Social Sciences and Humanities.
Summaries
Bowker Data Service Summary
The financial crisis that began in 2007 in the US swept the world, producing substantial bank failures and forcing unprecedented state aid for the crippled global financial system. This book draws critical lessons from the causes of the crisis and proposes important regulatory reforms.
Main Description
The financial crisis that began in 2007 in the United States swept the world, producing substantial bank failures and forcing unprecedented state aid for the crippled global financial system. Bringing together three leading financial economists to provide an international perspective, Balancing the Banks draws critical lessons from the causes of the crisis and proposes important regulatory reforms, including sound guidelines for the ways in which distressed banks might be dealt with in the future. While some recent policy moves go in the right direction, others, the book argues, are not sufficient to prevent another crisis. The authors show the necessity of an adaptive prudential regulatory system that can better address financial innovation. Stressing the numerous and complex challenges faced by politicians, finance professionals, and regulators, and calling for reinforced international coordination (for example, in the treatment of distressed banks), the authors put forth a number of principles to deal with issues regarding the economic incentives of financial institutions, the impact of economic shocks, and the role of political constraints. Offering a global perspective, Balancing the Banks should be read by anyone concerned with solving the current crisis and preventing another such calamity in the future.
Main Description
The financial crisis that began in 2007 in the United States swept the world, producing substantial bank failures and forcing unprecedented state aid for the crippled global financial system. Bringing together three leading financial economists to provide an international perspective, Balancing the Banks draws critical lessons from the causes of the crisis and proposes important regulatory reforms, including sound guidelines for the ways in which distressed banks might be dealt with in the future.While some recent policy moves go in the right direction, others, the book argues, are not sufficient to prevent another crisis. The authors show the necessity of anadaptive prudential regulatory system that can better address financial innovation. Stressing the numerous and complex challenges faced by politicians, finance professionals, and regulators, and calling for reinforced international coordination (for example, in the treatment of distressed banks), the authors put forth a number of principles to deal with issues regarding the economic incentives of financial institutions, the impact of economic shocks, and the role of political constraints.Offering a global perspective, Balancing the Banks should be read by anyone concerned with solving the current crisis and preventing another such calamity in the future.
Table of Contents
Acknowledgmentsp. vii
Introductionp. 1
Regulation in a Historical Perspectivep. 1
To Regulate or Not to Regulate?p. 3
The Challenges Facing Prudential Regulationp. 6
Building an Adaptive Regulatory System in a Global Worldp. 7
Keeping a Balancep. 8
Lessons from the Crisisp. 10
What Happened?p. 11
How Should the Financial System Be Reformed?p. 47
The Future of Banking Regulationp. 78
The Basel Accordsp. 78
The Breakdown of the Basel Prudential Regimep. 86
The Necessary Reformsp. 100
The Treatment of Distressed Banksp. 107
Reforming Prudential Policy for Distressed Banksp. 110
Macroeconomic and Systemic Considerationsp. 118
International Cooperationp. 122
Referencesp. 131
Indexp. 137
Table of Contents provided by Ingram. All Rights Reserved.

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