The Banking Crisis Handbook: 1st Edition (Paperback) book cover

The Banking Crisis Handbook

1st Edition

Edited by Greg N Gregoriou

CRC Press

628 pages | 86 B/W Illus.

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Description

Explores the Origin of the Recent Banking Crisis and how to Preclude Future Crises

Shedding new light on the recent worldwide banking debacle, The Banking Crisis Handbook presents possible remedies as to what should have been done prior, during, and after the crisis. With contributions from well-known academics and professionals, the book contains exclusive, new research that will undoubtedly assist bank executives, risk management departments, and other financial professionals to attain a clear picture of the banking crisis and prevent future banking collapses.

The first part of the book explains how the crisis originated. It discusses the role of subprime mortgages, shadow banks, ineffective risk management, poor financial regulations, and hedge funds in causing the collapse of financial systems. The second section examines how the crisis affected the global market as well as individual countries and regions, such as Asia and Greece. In the final part, the book explores short- and long-term solutions, including government intervention, financial regulations, efficient bank default risk approaches, and methods to evaluate credit risk. It also looks at when government intervention in financial markets can be ethically justified.

Reviews

"This book is a timely and welcome attempt to shed light on a number of aspects of the banking crisis that has precipitated the deepest global recession in recent memory. It would be a valued addition to the libraries of academics and policymakers alike."

—Professor Sumon Bhaumik, Senior Lecturer, Department of Economics and Finance, Brunel University, UK

"The current crisis has got various faces and dimensions. To be well understood, different points of view and perspectives have to be considered simultaneously. That is precisely the content of this book. It offers a broad overview by putting together very relevant contributions of experts from numerous financial institutions and research centers. Such an approach is the best way of avoiding similar mistakes in the future."

—Jean-David Fermanian, Senior Quantitative Researcher, Fixed Income Research Team, BNP Paribas, London, UK

"The banking and financial industry is currently experiencing a major and extremely severe crisis. This timely and unique handbook collects insightful contributions to understand not only the sources of the crisis but also how the landscape will change in the coming years. A must read for every finance practitioner."

—Dr. Jean-François Bacmann, Head of Overlay Strategies, Man Investments

"An invaluable book that will help readers gain a deeper understanding of the global financial crisis. Investors, regulators, and bankers would do well to study it carefully to avoid or protect against future banking crises."

—Arjan Berkelaar, Principal Investment Officer, World Bank Treasury, Washington, D.C., USA

Table of Contents

Banking Gross Negligence and Shadow Banking System

The Banking Crisis of the New Millennium—Why It Was Inevitable, Carolyn V. Currie

The Effect of Monetary Policy on Stock Prices: The Subprime Mortgage Crisis, Xanthi Gkougkousi and Peter Roosenboom

Shadow Banks and the Financial Crisis of 2007–2008, Jason Hsu and Max Moroz

Ineffective Risk Management in Banking: Bold Ignorance or Gross Negligence?, Wilhelm K. Kross and Werner Gleissner

The U.S. Mortgage Crisis: Subprime or Systemic?, Eric Tymoigne

Regulation and Financial Stability in Laissez-Faire Hong Kong: A Reassuring Record, Leo F. Goodstadt

Auction Rate Securities: Another Victim of the Credit Crisis, Edwin Neave and Samir Saadi

The Banking Crisis and the Nation-State, Jorg R. Werner

The Banking Crisis and the Insurance Markets, Christopher Parsons and Stanley Mutenga

The Role of Hedge Funds in the Banking Crisis: Victim or Culprit?, Nicolas Papageorgiou and Florent Salmon

Solving the Banking Crisis: A Private Capital Solution, François-Serge Lhabitant

Hedge Fund, Financial Leverage, and the 2008 Systematic Crisis: Are They Victims or Killers?, Ruggero Bertelli

Evaluation of Evidence for Banking Equity: Market Volatility in the Emerging Economy of China, Jack Penm and R.D. Terrell

Global, European, and Emerging Markets’ Perspectives

A Global Perspective on the Banking Crisis and Recovery: An Analysis of Domestic vs. Foreign Banks, Mahmud Hossain, Pankaj K. Jain, and Sandra Mortal

Overcoming Institutional Myopia and Bankers’ Self-Dealing Behavior: Coping with the Impact of the Global Financial Crisis on European Securitization Markets, Ulrich Hommel and Julia Reichert

The Millenium’s Credit Crunch and Lender of Last Resort: A Review of the Literature, Vicente Jakas

Emerging Stock Markets and the Current Financial Crisis: Emergence of a New Puzzle?, Mohamed El Hedi Arouri, Fredj Jawadi, and Duc Khuong Nguyen

The Financial Crisis and Loan Impairment Provisioning in Asia Banks, Tyrone M. Carlin, Nigel Finch, and Guy W. Ford

Currency and Maturity Mismatches in Latin America, Marco Sorge and Chendi Zhang

Dangers and Opportunities for the Russian Banking Sector: 2007–2008, Dean Fantazzini, Alexander Kudrow, and Andrew Zlotnik

The Stability of the Australian Banking Sector, Phillip A. Stork and Casper G. de Vries

Why Have Australian Banks Survived the Recent Global Financial Crisis?, John Simpson and Jennifer Westaway

Default Risk Codependence in the Global Financial System: Was the Bear Stearns Bailout Justified?, Jorge A. Chan-Lau

The Implementation of MiFID in the Financial Crisis Context: An Ethnographic Research Conducted in Greece, Emmanuel Fragniére and Elena Grammenou

Preventing Banking Crises, Bank Runs, Regulation, and Bailouts

Credit Derivatives and What Happened Next: Analysis and Recommendations, Bastian Breitenfellner and Niklas Wagner

Identifying Bank Runs Signals through Sociological Factors: An Empirical Research in the Geneva Area, Giuseppe Catenazzo and Emmanuel Fragniére

Bank Default Risk in the United States and the United Kingdom, Robert Powell and David E. Allen

Remuneration, Risk, and Financial Crisis, Guy W. Ford, Tyrone M. Carlin, and Nigel Finch

Some Overlooked Ethical Aspects of Bailing out Banks and the Philosophy of Frederic Bastiat, Robert W. McGee

Index

About the Editor

Greg N. Gregoriou is Professor of Finance in the School of Business and Economics at the State University of New York, Plattsburgh.

Subject Categories

BISAC Subject Codes/Headings:
BUS027000
BUSINESS & ECONOMICS / Finance
MAT000000
MATHEMATICS / General
MAT029000
MATHEMATICS / Probability & Statistics / General