Implications of the Global Financial Crisis

Journal of the Economics and Business Educators NSW, 2014, Issue 2, pp. 26-34.

9 Pages Posted: 9 Nov 2014 Last revised: 14 Apr 2015

See all articles by Wilson N. Sy

Wilson N. Sy

Investment Analytics Research

Date Written: August 26, 2014


The global financial crisis has provided clear evidence that the global financial system, including that of Australia, is founded on flawed economic theories. There is no scientific justification for sophisticated risk management, complex institutional structures or intrusive regulation. Australian financial system reforms should simplify corporate structures by restoring Glass-Steagall type separation, discourage anti-competitive conglomeration, reduce system leverage and prohibit over-the-counter derivatives in regulated institutions, decrease secrecy of complex institutional regulation, and increase consumer protection through transparent disclosure of regulatory data.

Keywords: Crisis, regulation, risk, financialization

JEL Classification: G2, G28, G38, L13, L4, L51

Suggested Citation

Sy, Wilson N., Implications of the Global Financial Crisis (August 26, 2014). Journal of the Economics and Business Educators NSW, 2014, Issue 2, pp. 26-34.. Available at SSRN: or

Wilson N. Sy (Contact Author)

Investment Analytics Research ( email )

12 Gilchrist Place
Balmain East, NSW 2041
0424669802 (Phone)

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