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| 1 |
ID:
149633
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| Summary/Abstract |
The 2008 financial crisis [1] was the most damaging economic event since the Great Depression, for both the United States and much of the global economy [2]. Although the U.S. economy emerged from it more quickly and in better shape than many other economies did, the crisis imposed tragically high costs and left deep economic and political scars. To help prevent another crisis, Congress passed the Dodd-Frank [3] Wall Street Reform and Consumer Protection Act in 2010. These and other reforms have added a considerable margin of safety to the U.S. financial system [4].
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| 2 |
ID:
182517
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| Summary/Abstract |
This commentary seeks to summarize, assess, and make integrated sense of three scholarly works that, together, help to shed light on the discussion regarding central banks’ scope, mandate, power, and independence. The issue is clearly relevant in comparative politics as one building block to evaluate both state capacities to manage the domestic economic environment routinely and the global crises faced recently. Within a period of 13 years, central banks across the world were at the center of the response to two different but highly devastating crises. The level of power enjoyed nowadays by central banks is, to a large extent, an outcome of the evolution following the 2008 crisis, which better equipped these institutions to provide some necessary economic policy interventions in 2020. The articles here reviewed are fine contributions to empirical observation and future research in this area.
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| 3 |
ID:
144468
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| Summary/Abstract |
This article examines the role of global financial institutions, the World Bank, and the International Monetary Fund, as well as the Group of 20 and the main European financial institution, the European Central Bank, in the aftermath of the 2008 financial crisis. The central question is whether these institutions are helping or hindering Europe's recovery. Looking at the activities of these institutions from 2008 to 2014, the article concludes that they have had little impact on the recovery itself. Instead, their focus has been on preventing further damage and eliminating the possibility of such a crisis in the future.
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