A Road to Financial Stability

Global Journal of Business Research, Vol. 5, No. 5, 2011

10 Pages Posted: 24 Jun 2011

See all articles by Uzma Ashraf Barton

Uzma Ashraf Barton

AIIFL, Faculty of Law, The University of Hong Kong; Georgetown University Law Center

Douglas W. Arner

The University of Hong Kong - Faculty of Law

Multiple version iconThere are 2 versions of this paper

Date Written: June, 23 2011

Abstract

This article provides a road map to financial stability. The roadmap is created by analyzing successive episodes of financial crisis at various points in time and the regulatory-cum-supervisory responses devised to reduce the chance of future threats to systemic stability. This article provides a glimpse of historical events that led to the establishment of Basel Committee and then critically evaluates committee’s efforts to make financial markets more certain and secure. This article also highlights the efforts of supervisory authorities in creating an effective regulatory framework through the Basel Capital accords. A critique of the Basel accords is sketched showing how Basel I and Basel II did not help contain successive episodes of financial crisis. This paper also draws upon Basel III regulations currently under deliberation and highlights vulnerable areas that may continue to threaten systemic stability even after the implementation of Basel III.

Keywords: Financial Crises, International Financial Markets, Government Policy and Regulation

JEL Classification: G01, G15, G18, G28

Suggested Citation

Barton, Uzma Ashraf and Arner, Douglas W., A Road to Financial Stability (June, 23 2011). Global Journal of Business Research, Vol. 5, No. 5, 2011. Available at SSRN: https://ssrn.com/abstract=1870769

Uzma Ashraf Barton

AIIFL, Faculty of Law, The University of Hong Kong ( email )

Faculty of Law, Pokfulam Road
Pokfulam
Hong Kong
Hong Kong
+852 9285 4145 (Phone)
+85225593543 (Fax)

HOME PAGE: http://www.aiifl.com

Georgetown University Law Center

DC 20001
United States

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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