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Central Bank Regulation and the Financial Crisis

A Comparative Analysis

  • Book
  • © 2016

Overview

Authors:
  1. Miao Han

    1. Durham University, UK

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  • Uses comparative analysis to investigate how the global financial crisis challenged the role played by central banks in maintaining financial stability.
  • Focuses on four central banks including the US Federal Reserve System, the Bank of England, the Bank of Japan and the People's Bank of China.
  • Explores the legal challenges within central bank regulation presented by the global financial crisis.

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-xiv
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  2. Introduction

    1. Introduction

      • Miao Han
      Pages 1-10

  3. Theoretical Framework

    1. Front Matter

      Pages 11-11
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    2. Central Banks’ Two-Tier Relationships

      • Miao Han
      Pages 13-39

    3. The Global Financial Crisis: The Challenge for Central Banks

      • Miao Han
      Pages 40-50

  6. Back Matter

    Pages 268-319
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Keywords

About this book

The respective legal frameworks that control central banks are shaped by whether they are market oriented or government controlled. However such stark distinction between these two categories has been challenged in view of the varying styles of crisis management demonstrated by different central banks during the crisis. This book uses comparative analysis to investigate how the global financial crisis challenged the role played by central banks in maintaining financial stability. Focusing on four central banks including the US Federal Reserve System, the Bank of England, the Bank of Japan and the People's Bank of China, it illustrates the similarities between the banks prior to the crisis, and their similar policy responses in the wake of the crisis. It demonstrates how each operated with varying levels of independence while performing very differently and facing different tasks. The book identifies some central explanatory variables for this behavior, addressing the mismatch of similar risk management solutions and varying outcomes. Central Bank Regulation and The Financial Crisis: A Comparative Analysis explores the legal challenges within central bank regulation presented by the global financial crisis. It emphasizes the importance of, and the limitations involved in, legal order and argue that in spite of integration and globalization, significant differences exist in central banks' approaches to risk management and financial stability.

Reviews

“Dr Miao Han’s book: Central Bank and the Financial Crisis is a timely work to examine central banks’ legal frameworks, crisis management tools, and latest institutional reforms. … the book offers valuable suggestions for policy-makers in the process of reforming monetary authorities and financial supervisory regimes. It also appeals to scholars from a variety of backgrounds in law, business, finance, political economy and public policy, as well as university lecturers who teach banking law and financial regulation.” (Lerong Lu, EuCML Journal of European Consumer and Market Law, Vol. 3, 2018)

Authors and Affiliations

  • Durham University, UK

    Miao Han

About the author

Dr Miao Han obtained a doctorate degree in Law and Business from Durham University, UK. Her main research interests lie in banking law and financial markets regulation, especially from an international perspective. She obtained a Master of Laws (LLM) degree from Cardiff University, UK and a Bachelor of Law (LLB) degree in China. Prior to this she practiced law as a legal assistant and adviser.

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