Does Financial Deregulation Work?: A Critique of Free Market Approaches

by Bruce Coggins

Overview

Does Financial Deregulation Work? studies the process of financial deregulation in the United States. It exposes the basic flaws in the deregulationist approach and advances a new framework for effective financial regulation.

Bruce Coggins provides a detailed and comprehensive critique of the reasoning behind deregulation, including marginal analysis and Friedman's monetarism. He challenges this thinking and proposes an alternative set of assumptions drawn from the historical and institutional approach to industrial organization and post Keynesian monetary theory. The author concludes that stability in financial systems is dependent upon a regulatory regime which focuses on limiting competition and encouraging productive over speculative investment.

This book will prove invaluable to financial economists and analysts interested in the controversy over bank deregulation. It will also be of interest to those using post Keynesian, institutionalist and industrial organization approaches to economic analysis as well as to students and professors of law and regulation and those interested in problems of financial instability.

Product Details

ISBN-13:	9781858986388
Publisher:	Edward Elgar Publishing
Publication date:	03/21/1998
Series:	New Directions in Modern Economics series
Pages:	240
Product dimensions:	6.12(w) x 9.25(h) x (d)

About the Author

The late Bruce Coggins, formerly Truman State University, US

Table of Contents

Contents: 1. An Introduction to the Deregulation Controversy 2. The Deregulationist Program 3. The Deregulationist Assumptions 4. Six Alternative Assumptions for Firms 5. Six Alternative Assumptions for Financial Markets 6. Performance of the Deregulationist Program under the Alternative Assumptions 7. Two Case Studies 8. A New Approach to Regulation Suggested by the Alternative Assumptions Index

Editorial Reviews

'To regulate or not to regulate has been one of the most vexing issues of the century. . . . Does Financial Deregulation Work? is a welcome addition to this complex debate. . . . Coggins does a convincing and painstaking job of presenting the case for strict regulation of the financial system.'

From the Publisher

A detailed critique of the reasoning behind the deregulation of banks, savings and loans, and other financial services. In challenging the conventional arguments, Coggins proposes an alternative set of assumptions drawn from post-Keynesian monetary theory and the historical and institutional approach to industrial organization. He concludes that stability in the financial systems is dependent upon a regulatory regime which focuses on limiting competition and encouraging productive over speculative investment. Annotation c. by Book News, Inc., Portland, Or.

Booknews