Banking / Finance

Complexity and Crisis in the Financial System: Critical Perspectives on the Evolution of American and British Banking

Edited by Matthew Hollow · Folarin Akinbami · Ranald Michie
Edward Elgar Publishing January 2016

Specifications

ISBN-13
9781783471324
Publisher
Edward Elgar Publishing
Publication
January 2016
Format
Hardback
Jurisdiction
U.K. ? Countri(es) for reference only

Details

What are the long-term causes and consequences of the global financial crisis of 2007–2008? This book offers a fresh perspective on these issues by bringing together a range of academics from law, history, economics and business to look in more depth at the changing relationships between crises and complexity in the US and UK financial markets.

With contributions from across the disciplines of law, history, finance, and economics, Complexity and Crisis in the Financial System offers a truly interdisciplinary study of the relationship(s) between crises and complexity in the US and UK financial markets.

Taken together, the contributions in this volume not only challenge many often taken-for-granted ideas about the nature of financial crises, but also broaden our understanding of the long-term causes (and consequences) of the global financial crisis of 2007–2008.

The contributors are motivated by three main questions:-

  • Is the present financial system more complex than in the past and, if so, why?
  • To what extent, and in what ways, does the worldwide financial crisis of 2007–2008 differ from past financial crises?
  • How can governments, regulators and businesses better manage and deal with increased levels of complexity both in the present and in the future?

Table of Contents

Introduction - Rethinking the Crisis–Complexity Nexus
Matthew Hollow

PART I COMPLEXITY AND CRISES IN FINANCIAL SYSTEMS
1. Financial Innovation and the Consequences of Complexity: Insights from Major US Banking Crises
Robert F. Bruner, Sean D. Carr and Asif Mehedi
2. Entrepreneurial Failure and Economic Crisis: A Historical Perspective
Mark Casson
3. Nature or Nurture: The British Financial System since 1688
Ranald Michie
4. The British Banking Population: 1790 to 1982
Ian Bond

PART II LEGISLATIVE AND STRUCTURAL CHANGES IN THE FINANCIAL SECTOR
5. From Tort to Finance: Delaware’s Sedative Duty to Monitor
Dalia Tsuk Mitchell
6. Demutualization and Risk: The Rise and Fall of the British Building Society
Andrew Campbell and Judith M. Dahlgreen
7. Directors in the Dock: Joint-stock Banks and the Criminal Law in Nineteenth-century Britain
James Taylor
8. UK Corporate Law and Corporate Governance before 1914: A Re-interpretation
James Foreman-Peck and Leslie Hannah
9. Effective Risk Management and Improved Corporate Governance
Roman Tomasic and Folarin Akinbami

PART III MANAGING AND REGULATING COMPLEX FINANCIAL SYSTEMS
10. The Historical Development of the US Government’s Responses to Economic and Financial Crises
Peter H. Bent
11. From the Mid-nineteenth-century Bank Failures in the UK to the Twenty-first-century Financial Policy Committee – Changing Views of Responsibility for Systemic Stability
T. T. Arvind, Joanna Gray and Sarah Wilson
12. Financial Reporting, Banking and Financial Crisis: Past, Present and Future
Mark Billings
13. Financial Crises and Disaster Management
John Singleton

Index
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