Financial Crises and Adequacy of Regulatory Responses

25 Pages Posted: 2 Mar 2011

See all articles by Andreas Walter Mattig

Andreas Walter Mattig

University of St. Gallen

Stefan Morkoetter

University of St. Gallen - School of Finance

Date Written: February 28, 2011

Abstract

As financial markets recover after their crisis, the academic field as well as politics have refocused on drawing the lessons from the crisis and are doing so mainly with regards to a reform in financial regulation and market transparency. In taking this approach, however, one important aspect of the reaction to the crisis is possibly being overlooked: The immediate responses the crisis triggered have rarely been discussed. This paper specifically focuses on these direct responses from central banks and market supervisory institutions to the crises. We look at a number of previous crises and discuss the effect, the timing and time-lags of these actions against their potential to support recovery or at least to ease a crisis.

Keywords: Regulation, Transmission Mechanism, Financial Intermediation

Suggested Citation

Mattig, Andreas Walter and Morkoetter, Stefan, Financial Crises and Adequacy of Regulatory Responses (February 28, 2011). Systemic Risk, Basel III, Financial Stability and Regulation 2011. Available at SSRN: https://ssrn.com/abstract=1774524 or http://dx.doi.org/10.2139/ssrn.1774524

Andreas Walter Mattig (Contact Author)

University of St. Gallen ( email )

Rosenbergstrasse 52
CH-9000 St. Gallen, 9000
Switzerland

Stefan Morkoetter

University of St. Gallen - School of Finance ( email )

Unterer Graben 21
St.Gallen, CH-9000
Switzerland

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