Description
Book SynopsisDoes Financial Deregulation Work? studies the process of financial deregulation in the United States. It exposes the basic flaws in the deregulationist approach and advances a new framework for effective financial regulation.
Bruce Coggins provides a detailed and comprehensive critique of the reasoning behind deregulation, including marginal analysis and Friedman's monetarism. He challenges this thinking and proposes an alternative set of assumptions drawn from the historical and institutional approach to industrial organization and post Keynesian monetary theory. The author concludes that stability in financial systems is dependent upon a regulatory regime which focuses on limiting competition and encouraging productive over speculative investment.
This book will prove invaluable to financial economists and analysts interested in the controversy over bank deregulation. It will also be of interest to those using post Keynesian, institutionalist and industrial organization approaches to economic analysis as well as to students and professors of law and regulation and those interested in problems of financial instability.
Trade Review'To regulate or not to regulate has been one of the most vexing issues of the century. . . . Does Financial Deregulation Work?
is a welcome addition to this complex debate. . . . Coggins does a convincing and painstaking job of presenting the case for strict regulation of the financial system.'Table of ContentsContents: 1. An Introduction to the Deregulation Controversy 2. The Deregulationist Program 3. The Deregulationist Assumptions 4. Six Alternative Assumptions for Firms 5. Six Alternative Assumptions for Financial Markets 6. Performance of the Deregulationist Program under the Alternative Assumptions 7. Two Case Studies 8. A New Approach to Regulation Suggested by the Alternative Assumptions Index
