The Growth of Shadow Banking

A Comparative Institutional Analysis

Matthias Thiemann

$45.95

Paperback

Not in-store but you can order this
How long will it take?

Availability Information

We source books from suppliers in Australia and overseas. For books we don't currently have in stock, the time it takes to get them from our suppliers can vary widely - from a few days to a few months - so we check each book with each supplier to determine the expected time it will take to be supplied to us.

We then advise you accordingly. If the time taken to get any book is too long for you, you can let us know and we will cancel or adjust your order, and refund as required.

To find out the anticipated arrival time for specific items prior to ordering, please contact us by phone or email:

Phone +61 2 9264 3111, or 1800 4 BOOKS (1800 4 26657) if outside Sydney:
option 1 Abbey's Bookshop (Crime, History, Science, Kids & more) • info@abbeys.com.au
option 2 Language Book Centre (ESL & Foreign Languages) • language@abbeys.com.au
option 3 Galaxy Bookshop (Sci-fi, Fantasy, Romance, Graphic Novels) • sf@galaxybooks.com.au

QTY:

English

Cambridge University Press
20 August 2020

Banking; Credit & credit institutions

The 'shadow banking system' refers to a system of credit-provision occurring outside of the official regulatory perimeter of commercial banks. Facilitated by securitization vehicles, mutual funds, hedge funds, investment banks and mortgage companies, the function and regulation of these shadow banking institutions has come under increasing scrutiny after the subprime crisis of 2007–8. Matthias Thiemann examines how regulators came to tolerate the emergence of links between the banking and shadow banking systems. Through a comparative analysis of the US, France, the Netherlands and Germany, he argues that fractured domestic and global governance systems determining the regulatory approach to these links ultimately aggravated the recent financial crisis. Since 2008, shadow banking has even expanded and the incentives for banks to bend the rules have only increased with increasing regulation. Thiemann's empirical work suggests how state-finance relations could be restructured to keep the banking system under state control and avoid future financial collapses.

By: Matthias Thiemann
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Dimensions: Height: 230mm, Width: 153mm, Spine: 16mm
Weight: 400g
ISBN: 9781316614167
ISBN 10: 1316614166
Pages: 305
Publication Date: 20 August 2020
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

Matthias Thiemann is Assistant Professor at the Centre d'études Européens, Sciences Po Paris.

Reviews for The Growth of Shadow Banking: A Comparative Institutional Analysis

'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