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The Great Recession, Capital Market Failure and International Financial Regulation

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Economic Policies, Governance and the New Economics

Part of the book series: International Papers in Political Economy Series ((IPPE))

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Abstract

For at least a decade before the onset of the ‘great recession’ in 2007 it had been clear that systemic global capital market failure is a far more significant driver of the crisis than government monetary or fiscal policy. Some initial steps have been taken towards re-regulating national financial markets to increase stability and reduce uncertainty; but at the international level there is little progress despite initial commitments by the governments responsible for the greater part of the world economy (G20, 2009).

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Authors and Affiliations

  1. University of Oxford, UK

    Valpy FitzGerald

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  1. Valpy FitzGerald
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Editor information

Editors and Affiliations

  1. Department of Land Economy, University of Cambridge, UK

    Philip Arestis (Director) (Director)

  2. University of Leeds, UK

    Malcolm Sawyer (Professor of Economics) (Professor of Economics)

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© 2013 Valpy FitzGerald

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FitzGerald, V. (2013). The Great Recession, Capital Market Failure and International Financial Regulation. In: Arestis, P., Sawyer, M. (eds) Economic Policies, Governance and the New Economics. International Papers in Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137023513_1

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