The Global Financial Crisis and Pro-Cyclical Instability Issues of Financial Institutions: The Post-Crisis Responses

Abstract:     
Key factors identified as contributing to the global financial crisis included the roles of financial accounting policies and credit rating agencies, and the combination of these factors in producing a continuing pro-cyclical destabilising effect on financial institutions. This article examines the progress made so far or the lack of it, in addressing these issues in the post-crisis period.

Number of Pages in PDF File: 9

Keywords: Global financial crisis, Financial Institutions stability, Fair value accounting, Financial reform

working papers series