Engineering the Financial Crisis: Systemic Risk and the Failure of Regulation
Jeffrey Friedman and Wladimir Kraus
224 pages | 6 x 9 | 13 illus.
Cloth 2011 | ISBN 978-0-8122-4357-4 | $45.00 | £29.50
This study examines the role of the Basel Accords—a set of international standards regulating bank capital—in the global financial crisis. It argues that because the accords were so widely adopted, they effectively homogenized the banking industry, increasing the systemic risk they were intended to prevent.
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