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A critical history of financial crises : why would politicians and regulators spoil financial giants? / Haim Kedar-Levy, Ben-Gurion University of the Negev, Israel.

By: Kedar-Levy, Haim [author.].
Material type: TextTextPublisher: London ; Imperial College Press , 2016Description: xvii, 208 pages : illustrations ; 26 cm.Content type: text Media type: unmediated Carrier type: volumeISBN: 9781908977465; 1908977469.Other title: Why would politicians and regulators spoil financial giants?.Subject(s): Financial crises -- History | Finance -- Government policy -- History | Financial institutions -- Government policy -- History | Finance -- Government policy | Financial crises | Financial institutions -- Government policy | Finanzkrise | Ursache | Auswirkung | Politik | Finanskriser -- historia | Finansiella institut -- historia | Ekonomisk politik | Financial crises -- History | Finance -- Government policy -- History | Financial institutions -- Government policy -- HistoryGenre/Form: History.DDC classification: 338.5/4209
Contents:
What are bubbles and financial crises? -- Key properties of the financial system and financial securities -- Commercial banking and banking crises -- The Roaring Twenties and the US bubble of 1929 -- The 'Great Depression' in the US -- The crisis of confidence in corporate America, 2001-2004 -- The Internet bubble -- When banks manipulate their stock prices : Israel's systemic banking crisis -- The tequila crisis and its hangover -- Japan and the East Asian Tigers -- The US real estate bubble -- Incentives, regulatory capture and collapse -- Shadow banking, the collapse of investment banking and the rescue of AIG -- New regulations -- Global implications of the credit crisis -- Regulatory capture and corruption vs. integrity and stability.
Summary: "The book explains how the economic environment changed throughout 10 of the most spectacular financial crises of the past century. On the one hand, it shows that the lack of effective regulation, relevant data, and adequate understanding of the economic environment were among the facilitators of the crises. On the other hand, it highlights the role that ill-incentivized bankers and accountants, biased politicians, euphoric investors, speculators, and corrupt managers played in the evolution of bubbles and crises"--Publisher description.
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Item type Current location Call number Status Date due Barcode
Book University of Texas At Tyler
Stacks - 3rd Floor
HB3722 .K43 2016 (Browse shelf) Available 0000002338432

Includes bibliographical references (pages 201-205) and index.

What are bubbles and financial crises? -- Key properties of the financial system and financial securities -- Commercial banking and banking crises -- The Roaring Twenties and the US bubble of 1929 -- The 'Great Depression' in the US -- The crisis of confidence in corporate America, 2001-2004 -- The Internet bubble -- When banks manipulate their stock prices : Israel's systemic banking crisis -- The tequila crisis and its hangover -- Japan and the East Asian Tigers -- The US real estate bubble -- Incentives, regulatory capture and collapse -- Shadow banking, the collapse of investment banking and the rescue of AIG -- New regulations -- Global implications of the credit crisis -- Regulatory capture and corruption vs. integrity and stability.

"The book explains how the economic environment changed throughout 10 of the most spectacular financial crises of the past century. On the one hand, it shows that the lack of effective regulation, relevant data, and adequate understanding of the economic environment were among the facilitators of the crises. On the other hand, it highlights the role that ill-incentivized bankers and accountants, biased politicians, euphoric investors, speculators, and corrupt managers played in the evolution of bubbles and crises"--Publisher description.

Reviews provided by Syndetics

CHOICE Review

Kedar-Levy's new book is a winner on several counts. What is normally a fairly arcane subject becomes a fascinating narrative. Many economists believe that markets, left to operate without any invasive policies, are likely to operate efficiently. However, Kedar-Levy pays close attention to the lack of market transparency, which allows operators to mislead the public, with the result that the whole system goes awry. Kedar-Levy pays particular attention to the accounting industry, which has a long history of producing fraudulent information that has the capacity to disrupt the economy in tragic ways. In the absence of transparency, many businesses are not immune to the temptation to siphon off funds, which leaves them vulnerable to even minor shocks. Kedar-Levy furthermore examines a widespread naiveté that tempts many to get swept up in speculative bubbles, which make the economy even more vulnerable. Finally, despite Kedar-Levy's extensive use of much of the most important literature on this subject, his book is still extremely accessible. In short, this book deserves a very strong recommendation. Summing Up: Essential. Lower-division undergraduates through faculty. --Michael Perelman, California State University, Chico

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