From crisis to crisis : the global financial system and regulatory failure
The global financial system--founded on principles of capital account liberalization, the process by which barriers to capital flows between nations are eliminated and financial globalization facilitated--has proven highly crisis-prone and deficient for debtors and creditors alike. Since 2008 we have been learning once again that mistakes in global finance can bring rich countries to the brink of bankruptcy and appalling suffering to the poorest citizens of poor countries. The predictable response measures of institutional economists fail to stop the continuing sacrifice of the lives of thousands and the futures of millions. This book presents a powerful indictment of this regulatory failure and calls for greatly increased attention to international financial law and a new recognition of the principles that ought to underlie it. Using a historical approach that compares the various financial crises of the twentieth century, the authors clearly show how in each case the same misconceived economic policy responses paved the way for the next ""crash""
Print Book, English, ©2011
Kluwer Law & Business ; Sold and distributed in North, Central and South America by Aspen Publishers, Alphen aan den Rijn, Frederick, Md., ©2011