The Consequences of the Global Financial Crisis: The Rhetoric of Reform and Regulation

by Wyn Grant, Graham K. Wilson

Overview

This is an open access title available under the terms of a CC BY-NC-ND 3.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations.

The Global Financial Crisis is the most serious economic crisis since the Great Depression, and although many have explored its causes, relatively few have focused on its consequences. Unlike earlier crises, no new paradigm seems yet to have come forward to challenge existing ways of thinking and neo-liberalism has emerged relatively unscathed. This crisis, characterized by a remarkable policy stability, has lacked a coherent and innovative intellectual response.

This book, however, systematically explores the consequences of the crisis, focusing primarily on its impact on policy and politics. It asks how governments responded to the challenges that the crisis has posed, and the policy and political impact of the combination of both the Global Financial Crisis itself and these responses.

It brings together leading academics to consider the divergent ways in which particular countries have responded to the crisis, including the U.S., the UK, China, Europe, and Scandinavia. The book also assesses attempts to develop global economic governance and to reform financial regulation, and looks critically at the role of credit rating agencies.

Product Details

ISBN-13:	9780198704607
Publisher:	Oxford University Press
Publication date:	04/15/2014
Edition description:	Reprint
Pages:	296
Product dimensions:	6.10(w) x 9.10(h) x 0.80(d)

About the Author

Wyn Grant is Professor of Politics at the University of Warwick and vice-president for Europe and Africa of the International Political Science Association. He has written extensively on economic policy, government-business relations, pressure groups, and agricultural and environmental policy.


Graham Wilson is Professor and Chair, Department of Political Science, Boston University. He previously taught at the Universities of Wisconsin-Madison and Essex.

Table of Contents

1. Introduction, Graham Wilson and Wyn Grant2. The Theory and Practice of Global Economic Governance in the Early 21st Century: the Limits of Multilateralism, Richard Higgott3. The UK: the Triumph of Fiscal Realism?, Andrew Gamble4. The United States: the strange survival of (Neo)Liberalism, Graham Wilson5. Constructing Financial Markets: reforming Over-the-Counter Derivatives in the aftermath of the financial crisis, Glenn Morgan6. Financial Regulation after the Global Financial Crisis: Regionalist Impulses and National Strategies, William W. Grimes7. Regaining Control: Capital Controls and the Global Financial Crisis, Kevin Gallagher8. Institutional Failure and the Global Financial Crisis, Timothy J. Sinclair9. What Happened to the State-influenced Market Economies (SMEs)? France, Italy, and Spain Confront the Crisis as the Good, the Bad, and the Ugly, Vivien A. Schmidt10. Social Solidarity in Scandinavia after the Failure of Finance Capitalism, Cathie Jo Martin11. French Responses to the Global Economic Crisis: the Political Economy of Post-dirigisme and New State Activism, Ben Clift12. Pardigm(s) Shifting? Responding to China's Response to the Global Financial Crisis?, Shaun Breslin13. Conclusion, Graham Wilson and Wyn Grant

Editorial Reviews

"Contributors, from both sides of the Atlantic and clearly experts in their areas, have written informative surveys that surely are worth reading. Recommended." —CHOICE

"This book highlights the main issues of the current global financial crises and gives an important historical background of the previous financial and economic crisis... An excellent book, worth reading." —Global Governance

From the Publisher