Asset bubbles, speculation in the financial and non-financial markets, systemic risks and the role of regulation are explored in The Global Financial Crisis: triggers, responses and aftermath – a new book byAustralian Catholic University’s (ACU) Professor Tony Ciro.
Deputy Head of the School of Business in Melbourne, Professor Ciro said he wrote the book in response to the greatest modern day economic catastrophe the world has ever seen.
“The speed and intensity of the collapse in global financial markets has been unparalleled and this book provides insight about how it came about and why,” he said.
“It looks at the root causes of the crisis, asks pertinent questions about its impact, and explores the responses of major global institutions such as IMF, the World Bank, the US Federal Reserve, the EU Central Bank and the G20.
“The book examines the critical timeline of events leading up to the collapse through specific case studies such as Babcock & Brown in Australia, Lehman Brothers in the US, and Northern Rock in the UK.
“Key policy decisions are analysed in critical detail and assessed in the context of the ongoing Euro Debt crisis – which continues to present significant headwinds for global recovery.
“Especially relevant for policy makers, market regulators, researchers and higher degree students, the book sheds light on the catastrophic events confronting the international economy today.
“Rescue packages and policy responses are evaluated as well as suggestions made for reforms and regulatory frameworks to maintain banking and modern financial systems in the future.”
Professor Ciro has extensive research expertise in tax, global economic events, financial derivatives markets, business law, corporations law and general commercial law.
Author and co-author of 12 books, Professor Ciro has been published widely in leading Australian and international refereed journals including Australian Business Law Review, European Intellectual Property Review and the Journal of International Banking Law and Regulation.