An Institutional Perspective on International Financial Governance: How Much Has Happened Since the Crisis?

Correa, Eugenia y Girón, Alicia (2017): An Institutional Perspective on International Financial Governance: How Much Has Happened Since the Crisis? Journal of Economic Issues, 51 (2). pp. 417-422. ISSN 0021-3624

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Resumen

This article studies some institutional trends in international financial regulation after the great crisis of 2008. It supports the idea that the largest financial corporations are working to create several components for an international self-regulation. Private firms make up the architecture of this complicated global mechanism, which is backed up by governments. Meanwhile,this built-up mechanism is based on several assumptions about the origins of the great financial crisis and on the capabilities of governments to reach the objectives they are expected to achieve. This article concludes that a new financial crisis will develop, and the “too-big-to-fail” financial corporations are already preparing strategies on resolution regimes.

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