Governing the world's biggest market : the politics of derivatives regulation after the 2008 crisis / edited by Eric Helleiner, Stefano Pagliari, Irene Spagna.

New York, NY : Oxford University Press, [2018]

xvii, 262 pages ; 25 cm

"In the wake of the 2008 global financial crisis, the regulation of the world's enormous derivatives markets assumed center stage on the international public policy agenda. Critics argued that loose regulation had contributed to the momentous crisis as well as commodity price volatility, market abuse, and, more generally, the growing power and influence of private financial interests. What has been done since 2008 to reform the regulation of derivatives markets? This volume examines how the G20 governments developed a coordinated international agenda to enhance public regulatory control over these markets that had been allowed to grow largely unchecked before the crisis. At the same time, the analysis shows that the degree of change embodied in this post-2008 reform agenda should not be overstated. The G20 governments have focused primarily just on enhancing the transparency and resilience of the markets, and they have endorsed some continued delegation of key governance functions to private actors and private rule-making. Moreover, the implementation of the G20 reform agenda has been characterized by unanticipated delays and inconsistencies as well as conflict and regulatory fragmentation between G20 members. The volume shows how these post-crisis regulatory trends - both the emergence of the G20 reform agenda and the difficulties associated with its implementation - have been influenced by a complex combination of transnational, inter-state, and domestic political dynamics"-- Provided by publisher.

Online version: Governing the world's largest market. New York, NY : Oxford University Press, [2018]

English

May 31, 2018

Includes bibliographical references and index.