Redesign of the Global Financial Architecture: State Authority, New Risks and Dynamics

The global financial crisis ten years ago led to the implementation of systems to prevent future banking crises. However, this updated edition questions whether the current paradigm is still fit for purpose as new dangers emerge. It discusses the impact of the Trump administration's policies on the regulatory landscape and explores potential future scenarios for the international regulatory architecture. The book highlights the importance of being prepared for future risks, including the COVID-19 pandemic and economic crash, and emphasizes the role of the G20 in addressing these challenges.

Format: Hardback
Length: 234 pages
Publication date: 30 October 2020
Publisher: Taylor & Francis Ltd

More than ten years on from the most intense phase of the global financial crisis, and the collective international response in the G20 summit in London, a ‘new normal’ has emerged with systems in place to mitigate against further banking crises. This updated new edition analyzes this post-crisis international and national regulatory framework and asks whether the current paradigm is fit for purpose as new dangers gestate and develop.

This new edition includes a discussion of the impact of the aggressively deregulatory and anti-globalist policies of the Trump administration and its pursuit of an ‘America First’ policy and explores its implications for the regulatory landscape constructed and tended by previous leaders. The author addresses new and future systemic risks, many outside the regulated banking sector, which have grown in importance since 2015. He develops possible future scenarios for the international regulatory architecture, both negative and positive, asking, ‘Are we better prepared for future banking crises?’ New risks, including the COVID-19 pandemic and economic crash, are testing the global system; and the G20, without US leadership, may be failing in this latest most severe crisis of our lifetimes. This book provides a unique narrative explanation drawn from leading actors of key events and policy changes as they unfolded immediately post-crisis. The author builds upon the first edition to capture key developments that have occurred during the past five years, while raising key questions and vulnerabilities, and looking at future risks and challenges that may emerge.

This text will be of great interest to students, teachers and researchers of financial frameworks, globalisation and political economy.

Weight: 518g
Dimension: 161 x 241 x 22 (mm)
ISBN-13: 9780367857479
Edition number: 2 New edition