Regulatory Failure and the Global Financial Crisis

Edited by Mohamed Ariff, Chair of Economics and Finance, Sunway University, Malaysia, John H. Farrar, Emeritus Professor of Law, Bond University, Australia and Professor of Corporate Governance, University of Auckland, New Zealand and Ahmed M. Khalid, Professor of Economics, School of Business and Economics, University of Brunei Darussalam

• Contents: Preface 1. Timeline of Crisis and IntroductionMohamed Ariff and John Farrar PART I: ORIGINS OF THE CRISIS AND IMPACT ON BANKING AND FINANCE2. The Origin of the Global Financial Crisis: An Alternative View Mohamed Ariff 3. Exchange Rate Changes and Global Trade Imbalances: China as a Major Creditor CompanyRonald I. MacKinnon 4. Bank Capital Adequacy: Where to Now? Kevin Davis PART II: CRISIS IMPACT ON ECONOMIC ACTIVITIES AND COSTS 5. Unemployment and the Global Financial Crisis: Who Suffered Most and Why? Melisa Bond and Noel Gaston 6. The Fiscal Policy Response to the Global Financial Crisis: A Critique Tony Makin 7. Cost Consequences to the Economy and Finance Ahmed Khalid PART III: GOVERNANCE AND REGULATORY ISSUES OF THE CRISIS8. Improving the Governance of Financial Institutions John Farrar 9. The Work of IOSCO and the Financial Regulatory Framework Jane Diplock 10. Balancing National and International Interests Wayne Byres PART IV: LESSONS FROM THE CRISIS11. Executive Remuneration in Australia Allan Fels 12. Regulatory Lessons from the Global Financial Crisis Jeffrey Carmichael 13. Should We Stop the IMF from Doing What it Should Not Do? A Radical IdeaRoss P. Buckley 14. When History is Ignored, Business Black Swans and the Use and Abuse of a Notion Graeme Dean and Frank Clarke Index