Description
Book SynopsisLee explains how global competition has driven policymakers toward lax regulation throughout history, leading to severe financial crises.
Table of ContentsList of Figures and Tables 1. Introduction Growth versus Stability in Financial Regulation The Argument in Brief Alternate Explanations Decline, Deregulation, and Crises through History The Plan of This Book 2. A Theory of Great Deregulations What Is Financial Leadership? The Causes and Consequences of Decline How Do Lead Economies (and Challengers) Respond to Decline? International Regulation Conclusion 3. The Great Deregulation of the 1850s The Origins of the Joint Stock Banking Act Napoléon III and the French Financial Revolution The Turn to Limited Liability in Britain The Spiral Conclusion 4. The Interwar Battle for Financial Supremacy The (Financial) Pax Britannica The American Challenge to British Financial Leadership The First World War and British Decline The Gold-Exchange Standard and Britain’s Return to Gold From Restoration to Depression Conclusion 5. The Great Deregulation of 1980-2000 An Era of Stability: Bretton Woods and the Glass-Steagall Era Deregulation Stalls, 1980-6 Competitive Challenges The Rise of Japan A British Challenge Competitiveness and the End of Glass-Steagall, 1986-2000 Conclusion 6. Conclusion American Twilight? Appendix: Distinguishing between Stringent and Lax Regulation Notes Works Cited Index
