Description
A comparative analysis of the growth and regulation of shadow banking activities by large banks in Western Europe and the US.
About the Author
Matthias Thiemann is Assistant Professor at the Centre d'etudes Europeens, Sciences Po Paris.
Reviews
'Ten years after the Great Financial Crisis, with regulations remaining mostly unchanged, this book offers a new paradigm for designing financial regulation. Thiemann situates the rise of shadow banking in ill-designed and often highly fragmented regulatory structures - an ideal breeding ground for regulatory arbitrage. Based on a careful comparative analysis of accounting governance in several countries, he argues for greater proximity of regulators to the regulated and a diversity of perspectives to avoid cognitive capture. Even more daring, Thiemann argues that regulators should not fall for the demand by the industry for certainty but instead should force regulatory uncertainty on the financial engineers to keep them on course. When the old regulatory structure inevitably fails us again, we will be better prepared to put a new regime in place and this book offers a new, empirically grounded, strategy.' Katharina Pistor, Edwin B. Parker Professor of Comparative Law, Columbia Law School
'Matthias Thiemann's The Growth of Shadow Banking is a highly insightful contribution that provides a fresh perspective on what led to the spread of shadow banking.' Dylan Cassar, Economic Sociology
'The book is important for anyone who wants to work in or research financial regulation. It provides a conceptual way of thinking about regulation. It also gives unique insights into the behind-the-scenes of regulatory sausage making.' Peteris Kloks, Financial Markets and Portfolio Management
Book Information
ISBN 9781316614167
Author Matthias Thiemann
Format Paperback
Page Count 305
Imprint Cambridge University Press
Publisher Cambridge University Press
Weight(grams) 400g
Dimensions(mm) 230mm * 153mm * 16mm