English | 2022 | ISBN: 0192866524 | 241 pages | True PDF EPUB | 9.03 MB
Despite the role of shadow banking in the building up of the 2008 international financial crisis, the massive size of this sector, its cross-border nature, and the risks it entails for financial stability, the post-crisis regulation of shadow banking has remained rather feeble. Why?
The Perils of International Regime Complexity in Shadow Banking identifies a ‘game of shadows’, which unfolded recursively concerning the definition, monitoring, and regulation of shadow banking internationally. Thus, states, regulators, and private actors tended to cast light away from various parts of the shadow banking system – shadow banking was (re)fined over time, its measurement was narrowed down, lessening the (perceived) need for regulation.