Financial Structures and Regulation: A Comparison of Crises in the UK, USA and I

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A survey of past financial crises, starting with the great banking collapses of the interwar period. The current turmoil has prompted a number of questions regarding both its origins and ways to avoid its repetition. The historical background and the evolving institutional framework of banking and financial systems are at the center of this book.

FORMATHardcover LANGUAGEEnglish CONDITIONBrand New Publisher Description

A survey of past financial crises, starting with the great banking collapses of the interwar period. The current turmoil has prompted a number of questions regarding both its origins and ways to avoid its repetition. The historical background and the evolving institutional framework of banking and financial systems are at the center of this book.

Notes

Relying on laws, regulations, supervisory styles, public policy issues and statistics about the structure of the financial system Roselli provides a better understanding of the crises

Author Biography

ALESSANDRO ROSELLIis Visiting Fellow at Cass Business School, City University, London. He has written extensivelyon banking, finance and economic history. Among his books: La finanza Americana; Il governatore Azzolini; Italy and Albania: Financial Relations in the Fascist Period and, with Carlo Gola, The UK Banking System and Its Regulatory and Supervisory Framework.

Table of Contents

Introduction PART I: THE INTERWAR PERIOD Financial Depth in Three Economies: The UK, the USA, Italy The Great Depression and Britain The United States: Boom and Depression Italy: Finance in a Fascist State PART II: FINANCIAL STABILITY AND EVOLUTION IN THE POSTWAR DECADES (A 'GOLDEN AGE'?) Financial Deepening in the Three Economies The United Kingdom: Not So Stable The United States: Big Government and Big Bank Italy's Recovery PART III: THE RECENT PERIOD The Broad Framework Financial Structure of the Three Economies: Never So Deep Growth and Collapse of the Shadow Banking System in the United States A Severe Test for London as the World Financial Centre Italy: Financially More Stable, but Structural Problems Persist Conclusion

Review

'Dr. Roselli's book is essential reading for all who wish to understand the recent crisis and make reoccurrence less likely. It combines understanding of history with economic analysis and the experience and knowledge of a practicing central banker. This is political economy at its best readable, well informed, and thoughtful.'- Geoffrey Wood, Professor Emeritus of Economics, Cass Business School, UK and Professor Emeritus of Monetary Economics, University of Buckingham, UK'Alessandro Roselli's book offers an insightful and timely study of financial regulation. It is a storehouse of valuable information and sound analysis. The historical perspective and the comparative approach make the book a unique contribution to the literature on banking. The book casts much needed light to the understanding of the recent crisis. Practitioners in both the legal and the economic profession, policy-makers, academics and students will greatly benefit from reading this book.'- Rosa Maria Lastra, Professor in International Financial and Monetary Law, Queen Mary, University of London, UK

Long Description

Within the wide array of works recently devoted to the global financial crisis, this book takes an unusual approach, because it combines different, and often neglected, tools of analysis of the banking and financial system: the use of history for a better understanding of the public policy issues involved in financial regulation; the institutional and regulatory framework that is instrumental to financial stability; and a cross-country comparison of financial crises in three relevant countries: the UK, the US and Italy. The comparison highlights each country's peculiarities in financial structures, institutional arrangements and supervisory styles. This approach is supported by an extensive use " also, often overlooked - of balance sheet data related to different sectors of each economy. The evidence of the recent crisis shows an unprecedented financial deepening particularly in Anglo-Saxon countries, and raises new questions about links between financial depth, instability and institutional factors. Roselli also suggests how financial regulation could move in an alternative direction.

Review Quote

'Dr. Roselli's book is essential reading for all who wish to understand the recent crisis and make reoccurrence less likely. It combines understanding of history with economic analysis and the experience and knowledge of a practicing central banker. This is political economy at its best readable, well informed, and thoughtful.' - Geoffrey Wood, Professor Emeritus of Economics, Cass Business School, UK and Professor Emeritus of Monetary Economics, University of Buckingham, UK

Description for Bookstore

Relying on laws, regulations, supervisory styles, public policy issues and statistics about the structure of the financial system Roselli provides a better understanding of the crises

Details ISBN0230284949 Short Title FINANCIAL STRUCTURES & REGULAT Language English ISBN-10 0230284949 ISBN-13 9780230284944 Media Book Format Hardcover DEWEY 332.1 Publication Date 2011-11-08 Year 2011 Imprint Palgrave Macmillan Place of Publication Basingstoke Country of Publication United Kingdom Pages 280 Edition Description 2012 Subtitle A Comparison of Crises in the UK, USA and Italy UK Release Date 2011-11-08 AU Release Date 2011-11-08 NZ Release Date 2011-11-08 Author A. Roselli Publisher Palgrave Macmillan Series Palgrave Macmillan Studies in Banking and Financial Institutions Alternative 9781349330119 Illustrations XVIII, 280 p. Audience Professional & Vocational We've got this

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