On the political economy of the financial crisis and bailout of 2008-2009

被引：37
|
作者：
Congleton, Roger D. [1 ]
机构：
[1] George Mason Univ, Ctr Study Publ Choice, Fairfax, VA 22030 USA
来源：
PUBLIC CHOICE | 2009年 / 140卷 / 3-4期
关键词：
Political economy; Crisis management; Regulatory failure; Financial markets; Housing markets; Credit markets; Asset bubbles; Public choice; EFFICIENCY; VALUATION; MARKET;
D O I：
10.1007/s11127-009-9478-z
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
U.S. policies to promote home ownership and other banking regulatory decisions helped to create a highly leveraged international market for mortgage-based securities. Declines in the price of housing, consequently, had major effects on the balance sheets and portfolios of financial institutions throughout the world. The political response to the financial crisis has been rapid and large. In general, differences in the effectiveness of government policies show the advantage of standing institutions at crisis management relative to innovative legislation.
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页码：287 / 317
页数：31
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