Advances in Economics, Management and Political Sciences
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Proceedings of the 7th International Conference on Economic Management and Green Development
Series Vol. 34 , 10 November 2023
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2008 Financial Crisis and Systemic Risk Regulation
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Abstract
During the post-pandemic era, whether Covid-19 will cause a financial crisis is one of the key issues. Some research are done about the relationships between the Covid-19 crisis and the 2008 financial crisis, but there still exists much blank about mechanics and explanations in this field. This paper first focuses on the 2008 financial crisis, analyzing key factors attributing to such a serious financial crisis, giving suggestions in response to factors found, and then comparing the 2008 financial crisis to the Covid-19 crisis to give some warnings. In the course of analyzing key factors, this paper concludes with previous research and uses the game theory model to show why the policy of the government is indispensable. As to give responses, this paper takes the Dodd-Frank Act and Basel III for example to show how people deal with key factors found before and then gives some supplementary suggestions. The conclusion of this paper is that the 2008 financial crisis was the result of constantly aggressive monetary policy and people’s lack of awareness of risks and proper regulation. The by comparing the Covid-19 crisis and the 2008 financial crisis, this paper thinks the Covid-19 crisis won’t be serious if the Fed is careful about constantly aggressive monetary policy and the government strictly implement policies like the Dodd-Frank Act and Basel III.
Keywords
financial crisis, systemic risk, regulatory responses
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 7th International Conference on Economic Management and Green Development
- ISBN (Print)
- 978-1-83558-089-9
- ISBN (Online)
- 978-1-83558-090-5
- Published Date
- 10 November 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/34/20231668
- Copyright
- 10 November 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited