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Full-Text Articles in Law
The New Crisis For The New Century: Some Observations On The "Big-Picture" Lessons Of The Global Financial Crisis Of 2008, Saule T. Omarova
The New Crisis For The New Century: Some Observations On The "Big-Picture" Lessons Of The Global Financial Crisis Of 2008, Saule T. Omarova
Saule T. Omarova
The unprecedented scale and complex contagion effects of the current financial crisis, which rapidly spread across geographic borders and market segmentation lines, forcefully underscored the urgent need for policy-makers, financial regulators, and market participants around the world to develop a deeper substantive understanding of the fundamental changes in the dynamics of modern financial markets. Although, in a historical perspective, all financial crises tend to display certain basic commonalities, two key factors make the crisis of 2008 qualitatively different from the panics and crashes of the past centuries. First, this is the world's first truly global financial crisis. Second, this is …
Korea’S Financial Regulatory Reforms Responding To The Global Financial Crisis Of 2008: Assessments And Future Prospects, Dong Won Ko
Dong Won Ko
Since the 2008 global financial crisis (GFC), we have seen many reforms, as each country has endeavored to reform its financial regulatory system, including banking and financial regulation. The reforms attempted to respond to the crisis in line with the new global regulatory framework initiated by G-20s and international financial organizations. The Korean Government has also proposed new legislation and financial reforms, in response to the GFC, including reinforcement of protection for financial consumers and strengthening the corporate governance in financial institutions. This article seeks to review the regulatory reform measures, and to analyze whether such measures follow those global …