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The Government of MarketsThe Legacy, Causes and Relevance of Interwar Futures Market Regulation

The Government of Markets: The Legacy, Causes and Relevance of Interwar Futures Market Regulation [This chapter concludes the study by (i) summarising the innovations in institutions and governance that took place in the interwar years, (ii) outlining what the private archival record demonstrated to be the key causes of said evolution, (iii) detailing the legacy of the interwar years and (iv) proposing a few possible applications of the findings here to the current debate concerning post-crisis financial regulation. That the regulatory regime during the 1920s and 1930s can be called polycentric and had varied influences—even if always centred around the US government—behoves policy-makers to include a role for both government and all market participants in regulatory conversations leading to any new legislation. Successful regulation leading to efficient financial markets is likely impossible without both government and markets.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

The Government of MarketsThe Legacy, Causes and Relevance of Interwar Futures Market Regulation

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References (15)

Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2018
ISBN
978-3-319-93183-8
Pages
279 –299
DOI
10.1007/978-3-319-93184-5_6
Publisher site
See Chapter on Publisher Site

Abstract

[This chapter concludes the study by (i) summarising the innovations in institutions and governance that took place in the interwar years, (ii) outlining what the private archival record demonstrated to be the key causes of said evolution, (iii) detailing the legacy of the interwar years and (iv) proposing a few possible applications of the findings here to the current debate concerning post-crisis financial regulation. That the regulatory regime during the 1920s and 1930s can be called polycentric and had varied influences—even if always centred around the US government—behoves policy-makers to include a role for both government and all market participants in regulatory conversations leading to any new legislation. Successful regulation leading to efficient financial markets is likely impossible without both government and markets.]

Published: Dec 22, 2018

Keywords: Polycentricity; Dodd-Frank; Global financial crisis; Market regulation; Enforced self-regulation

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