Unfinished Business
The Unexplored Causes of the Financial Crisis and the Lessons Yet to be Learned
گزارش تخلف
کتاب های مرتبط
- اطلاعات
- نقد و بررسی
- دیدگاه کاربران
نقد و بررسی
November 1, 2017
Bayoumi, a deputy director at the International Monetary Fund, examines the historic context of the 2008 financial crisis in both the United States and Euro currency countries and traces how seemingly benign policies to lower currency barriers and standardize banking regulations across Europe weakened the system. He explains that in the United States, different requirements of regulated and shadow banks created similar fragility. Market forces, Bayoumi says, made the United States crash first, but the Euro area suffered longer because its banks held bad debt on their books, there was no centralized macroeconomic support, and the single currency prevented weak countries from inflating out of the crisis. Overconfidence in models and monetary tools coupled with lax regulation, states the author, blinded policymakers. He remains skeptical about how much difference post-2008 reforms will make and argues that financial policies cannot create prosperity alone without dealing with the real economy. VERDICT Bayoumi's impressive coverage of both sides of the Atlantic sheds new light on the crisis. This work's academic tone and level of detail makes it most appropriate for readers with some background in the subject.--Lawrence Maxted, Gannon Univ. Lib., Erie, PA
Copyright 2017 Library Journal, LLC Used with permission.
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