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A new age of financial regulation?

Berthold, Dorothea (2012) A new age of financial regulation?
Masterarbeit, University of Vienna.
BetreuerIn: Neudeck, Werner

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DOI: 10.25365/thesis.53957
URN: urn:nbn:at:at-ubw:1-13706.89242.922771-9

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Abstract in English

The outbreak of the 2007-09 global financial crisis, with the collapse of the fourth largest U.S. investment bank Lehman Brothers, has clearly demonstrated the high degree of interconnectedness and growing complexity of the global financial market environment. Moreover, the crisis has shed light on unprecedented regulatory challenges, marked by new interrelated sources of systemic risk and the deficiencies of global regulatory oversight in keeping trace with novel types of financial activities. The Thesis aims at examining the impact of the global financial crisis on the system of financial governance at the global level by focusing on the institutional level of prudential standard Setting bodies and the policy level by analyzing the achievements of the Group of Twenty (G20). Given the role of certain OTC credit derivatives, particularly mortgage-backed securities in the global market turmoil, the question of a novel approach to international securities regulation has moved to the top of the global policy agenda. By analyzing three interrelated dimensions - the institutional framework of standard setting bodies, the scope of regulation and theoretical underpinnings of global securities regulation, the Thesis intends to draw a broad picture of the main issues at stake in global securities and crosssectoral regulation with an emphasis on financial innovation and the shadow banking system, given their role in the market turmoil of 2007-09. Has the international community entered a new age of global financial regulation?

Schlagwörter in Englisch

finance / crisis / global governance / financial regulation / efficient market hypothesis / systemic risk / OTC derivatives / securitization / shadow banking system / selfregulation / global standard setting

Abstract in German

The outbreak of the 2007-09 global financial crisis, with the collapse of the fourth largest U.S. investment bank Lehman Brothers, has clearly demonstrated the high degree of interconnectedness and growing complexity of the global financial market environment. Moreover, the crisis has shed light on unprecedented regulatory challenges, marked by new interrelated sources of systemic risk and the deficiencies of global regulatory oversight in keeping trace with novel types of financial activities. The Thesis aims at examining the impact of the global financial crisis on the system of financial governance at the global level by focusing on the institutional level of prudential standard Setting bodies and the policy level by analyzing the achievements of the Group of Twenty (G20). Given the role of certain OTC credit derivatives, particularly mortgage-backed securities in the global market turmoil, the question of a novel approach to international securities regulation has moved to the top of the global policy agenda. By analyzing three interrelated dimensions - the institutional framework of standard setting bodies, the scope of regulation and theoretical underpinnings of global securities regulation, the Thesis intends to draw a broad picture of the main issues at stake in global securities and crosssectoral regulation with an emphasis on financial innovation and the shadow banking system, given their role in the market turmoil of 2007-09. Has the international community entered a new age of global financial regulation?

Schlagwörter in Deutsch

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Item Type: Hochschulschrift (Masterarbeit)
Author: Berthold, Dorothea
Title: A new age of financial regulation?
Subtitle: securities, systematic risk and the impact of the 2007 - 2009 financial crisis on global financial governance
Umfangsangabe: VI, 98 S. : Ill., graph. Darst.
Institution: University of Vienna
Faculty: Postgraduate Center (PGC)
Studiumsbezeichnung bzw.
Universitätslehrgang (ULG):
Master of Advanced International Studies
Publication year: 2012
Language: eng ... Englisch
Supervisor: Neudeck, Werner
Assessor: Neudeck, Werner
Classification: 70 Sozialwissenschaften allgemein > 70.00 Sozialwissenschaften allgemein: Allgemeines
83 Volkswirtschaft > 83.10 Wirtschaftstheorie: Allgemeines
83 Volkswirtschaft > 83.12 Makroökonomie
83 Volkswirtschaft > 83.13 Theorie der Wirtschaftspolitik, Wohlfahrtstheorie
83 Volkswirtschaft > 83.48 Internationale Wirtschaftsorganisationen
83 Volkswirtschaft > 83.50 Geld, Inflation, Kapitalmarkt
83 Volkswirtschaft > 83.52 Finanzwissenschaft
83 Volkswirtschaft > 83.70 Banken, Versicherungen
AC Number: AC10684542
Item ID: 53957
(Das PDF-Layout ist ident mit der Druckausgabe der Hochschulschrift.)

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