Preparing for the Next Financial Crisis

The book "Preparing for the Next Financial Crisis" examines the causes and consequences of financial crises and instability, drawing lessons from economic policies and research to prevent future mistakes. It assesses the capacity of economic policies and institutions to limit the cost of instability and asks if the financial system has become safer in the light of the COVID-19 Global Crisis.

Format: Paperback / softback
Length: 370 pages
Publication date: 29 December 2020
Publisher: Taylor & Francis Ltd

The impact of the 2007 Global Financial Crisis (GFC) continues to reverberate across the world, leaving both the general public and finance professionals, economists, and journalists in awe. In the face of this unprecedented challenge, Preparing for the Next Financial Crisis takes a back-to-basics approach. The authors delve into the core questions: What insights do theory and empirical observations offer regarding the causes and consequences of financial crises and instability? How can we draw lessons from the rapidly evolving economic policies and research, aimed at avoiding past mistakes, in a complex financial landscape?

This comprehensive review of the literature, encompassing a wide range of perspectives, aims to highlight areas of consensus among economists and policymakers. It assesses the effectiveness of economic policies and institutions in mitigating the costs associated with financial instability. Drawing from a wealth of data and analysis, the authors conclude that while progress has been made, there are still areas that require further reform to address emerging risks and challenges.

In the context of the COVID-19 Global Crisis, this review serves as a timely assessment of the reform agenda, the progress achieved, and the areas that require further attention to ensure the stability and resilience of the financial system. It underscores the importance of continuous monitoring, adaptation, and proactive measures to safeguard against future crises.

As we reflect on the past decade since the GFC, it is evident that the world has undergone significant changes. The financial landscape has become more interconnected, and new risks have emerged. The lessons learned from the GFC serve as a valuable guide for policymakers and financial institutions as they navigate the uncharted waters of the future.

In conclusion, Preparing for the Next Financial Crisis is a valuable contribution to the ongoing discourse on financial stability and resilience. It provides a comprehensive analysis of the past, present, and future challenges, offering insights and recommendations for building a more robust and sustainable financial system. By embracing a proactive and forward-thinking approach, we can mitigate the risks associated with financial instability and work towards a more secure and prosperous future.

Weight: 592g
Dimension: 515 x 154 x 39 (mm)
ISBN-13: 9781138594708