The World in Crisis: Insights from Six Shadow Financial Regulatory Committees

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In different chapters, members of the SFRC provide different regional perspectives on the Global Financial Crisis and Financial Regulation. The Committees discuss how the crisis evolved in each of their countries or region, lessons learned, reform measures adopted or not adopted to date and propose ways in which cross-country coordination of financial regulatory policies may help prevent future crises, or at least minimise their severity.

The book begins with an Executive Summary of the chapters, followed by a statement adopted by the six Shadow Committees at a joint meeting in Washington, D.C. on October 22 – 24, 2011 on the current economic and financial crisis in the Eurozone countries, applying relevant lessons from the individual chapters. The Australia-NZ Shadow Committee chapter was prepared by Profs Christine Brown (Monash University), Prof Kevin Davis (Australian Centre for Financial Studies and University of Melbourne), Prof Mervyn Lewis (University of South Australia) and Prof David Mayes (University of Auckland).

At the joint meeting in Washington, D.C. , the six committees discussed the impact of the financial crisis on countries in their regions, relevant lessons and policies to adopt. Presenters and Commenters include:

  • ASLI DEMIRGUC-KUNT, World Bank
  • LUC LAEVEN, International Monetary Fund
  • JEREMY GOH, Asian Shadow Financial Regulatory Committee
  • HARALD A. BENINK, Europe Shadow Financial Regulatory Committee
  • MASAYA SAKURAGAWA, Japanese Shadow Financial Regulatory Committee
  • LILIANA ROJAS-SUAREZ, Latin America Shadow Financial Regulatory Committee
  • GEORGE G. KAUFMAN, US Shadow Financial Regulatory Committee
  • KEVIN DAVIS, Australia-New Zealand Shadow Financial Regulatory Committee
Kevin Davis at the Joint Shadow Financial Regulatory Committees Meeting in Washington D.C. October 24 2011

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