European Parliament Library

The Economic Crisis :, Did Financial Supervision Matter?, Marc Quintyn, Rosaria Vega Pansini, Donato Masciandaro

The Asian financial crisis marked the beginning of worldwide efforts to improve the effectiveness of financial supervision. However, the crisis that started in 2007?08 was a crude awakening: several of these improvements seemed unable to avoid or mitigate the crisis. This paper brings the first systematic analysis of the role of two of these efforts - modifications in the architecture of financial supervision and in supervisory governance - and concludes that they were negatively correlated with economic resilience. Using the emerging distinction between macro- and micro-prudential supervision, we explore to what extent two separate institutions would allow for more checks and balances to improve supervisory governance and, thus, reduce the probability of supervisory failure
Table Of Contents
Cover Page; Title Page; Copyright Page; Abstract; Contents; I. Introduction; II. Background and Conceptual Framework; III. The 2008-09 Economic crisis: What role for Supervision?; A. The narrative: supervisory flaws as a contributing factor; Table 1 - What selected authors say about failures in the supervisory architecture and supervisory governance; B. The empirical evidence; Related Literature; Quantifying our two Dimensions of Supervision; Supervisory architecture; 1. Financial Supervision Unification; 2. Central Bank Involvement in Supervision; Supervisory governance
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (67 p.)
Specific Material Designation
Form Of Item

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