Avoiding International Financial Crises, an Incomplete Reform Agenda forthcoming in Global Asset Management , I. Walter, M. Pinedo (Eds.) Macmillan Publishers Limited (forthcoming)
After a brief review of the origin of the subprime crisis, we argue that the set of reforms proposed recently by national and international groups to reduce the risk of global banking crises needs to be completed. Three important issues remain, in our opinion, to be addressed:
- Accountability of bank supervisors and regulators
- An end to the too-big-to fail doctrine
- A satisfactory regime for the supervision of international financial groups.