ENGLISH

Connectedness and contagion: protecting the financial system from panics

By Scott , Hal S

Book information

Publisher
The MIT Press
ISBN
9780262034371, 9780262332149, 4933100144, 9780262332156, 0262332159
Language
english
Format
EPUB
Filesize
2 MB (2121958 bytes)
Pages
\0
Time added
2020-07-26 19:24:52
2008-2009 -- Government policy2008-2009--Government policy;Government policy;His2008-2009;Global Financial CrisisFinancial crises;Financial crises--History--21st c

Description

The Dodd-Frank Act of 2010 was intended to reform financial policies in order to prevent another massive crisis such as the financial meltdown of 2008. Dodd-Frank is largely premised on the diagnosis that connectedness was the major problem in that crisis - that is, that financial institutions were overexposed to one another, resulting in a possible chain reaction of failures. In this work, Hal Scott argues that it is not connectedness but contagion that is the most significant element of systemic risk facing the financial system.

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