The Global Credit Crisis of 2008: Causes and Consequences

The International Lawyer, Vol. 43, pp. 91-136, 2009

90 Pages Posted: 10 May 2009 Last revised: 21 Feb 2011

See all articles by Douglas W. Arner

Douglas W. Arner

The University of Hong Kong - Faculty of Law

Multiple version iconThere are 2 versions of this paper

Date Written: May 1, 2009

Abstract

This article discusses the current global financial crisis and its implications for international finance and financial regulation. The article begins with a discussion of the causes of the crisis, particularly the role of regulatory incentives underlying excessive international and domestic borrowing, lending, and investment. From this basis, the article looks to the international responses to the crisis, focusing on the Financial Stability Forum and the Group of Twenty. In this context, it considers issues relating to systemic risk and financial stability, with particular attention to possible regulatory changes and their implications for international finance.

Keywords: financial crisis, financial stability, Financial Stability Forum, securitisation, capital

JEL Classification: G20

Suggested Citation

Arner, Douglas W., The Global Credit Crisis of 2008: Causes and Consequences (May 1, 2009). The International Lawyer, Vol. 43, pp. 91-136, 2009 . Available at SSRN: https://ssrn.com/abstract=1400623

Douglas W. Arner (Contact Author)

The University of Hong Kong - Faculty of Law ( email )

Pokfulam Road
Hong Kong, Hong Kong
China

HOME PAGE: http://hub.hku.hk/rp/rp01237

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