Global Financial Crisis, Problems in Official Discipline and Designing Optimal Official Discipline Framework
Kocaeli Barosu Dergisi, Vol. 2, pp. 37-47, 2010
17 Pages Posted: 23 Sep 2011
Date Written: June 30, 2010
Global financial crisis, arising from real estate and finance sectors, has caused extra ordinary costs for the world economy. Problems in the public management model of the US finance and real estate sectors would be accepted as one of the important reasons of the financial failures in the US financial intermediaries. In this article, the author examines the impacts of inefficiencies of the official discipline structure, involving regulation, supervision and enforcement tools, on the global financial crisis. Additionally, we also analyze potential efficiency problems of design of the optimal regulatory structure. We conclude that official discipline structure may naturally imply inefficiencies based on its problematic/complicated nature. Therefore, the tool of regulation may offer only partial/limited solutions to the current problems.
Note: Downloadable document is in Turkish.
Keywords: Global crisis, regulation, real estate
JEL Classification: H12, G24, L85
Suggested Citation: Suggested Citation