Financial Competition, Risk and Accountability: British and German Experiences

by S. Frowen (Editor), Na Clayton (Editor), Anglo-German Foundation for the Study of Industrial Society Staff (Contribution by)

Overview

Recent decades have seen a sharp increase in financial competition, intensified by globalisation. Excessive risk-taking leading to inevitable business failures at times reached worrying proportions. A contributing factor arose from the complexities of the derivative and other new markets. This volume attempts to analyse and explain financial market developments at the turn of the millennium with the emphasis on the need for greater responsibility and a more ethical approach to financial decision-making.

Product Details

ISBN-13:	9780333735909
Publisher:	Palgrave Macmillan UK
Publication date:	02/13/2001
Edition description:	2001

About the Author

Stephen F. Frowen is Honorary Research Fellow in the Department of Economics at University College London, and Senior Research Associate at the Von Hügel Institute, St. Edmund's College, University of Cambridge.

Francis P. McHugh is a Catholic priest and Director of the Von Hügel Institute as well as a Fellow and Tutor of St. Edmund's College, Cambridge.

Table of Contents

List of Tables List of Figures Notes on the Contributors Competition Forces and Institutional Structure in the UK and Germany; N.Walker Financial Innovation and Financial Stability: Some Lessons from Germany and the UK; G.Hoggarth, A.Milne & G.E.Wood European Destiny and Macroeconomic Responsibility in the Financial Systems of Germany and the UK: A Balance Sheet Approach; J.Toporowski Discussant; A.Tylecote What Kind of Stability Helps Industry?: Contrasting Experiences with British and German Banking; F.H.Capie & G.E.Wood Discussant; B.Köhler Financial Competition, Risk and Accountability: The Role of Trust Banks; J.A.Kregel The Dynamics of Change and Risk in Corporate and Wholesale Finance; B.Howcroft Discussant; B.Zugenbühler Risk Management and the Ethics of New Financial Instruments; J.Welby Business Ethics in the Banking Industry - Some Remarks; A.Wagner The Savings Ratio Behaviour in Globalised Money and Capital Markets: A Comparison of the UK and German Experience; S.F.Frowen & E.Karakitsos Discussant; E.O.Smith The Role of Central Banks in the Global Competition Environment; N.Kloten Bank Supervision in the Context of Global Competition; J.G.Ellis Economic and Monetary Union: An Ethical Issue?; M.Donnelly Capital and Credit-Based Development: Lessons for Central East Europe; S.Herten & J.Hölscher Discussant; M.Moersch Social Banking and Affordable Housing in Germany; U.Reifner & J.Pfau The Role of Compliance in Germany's Banking Culture; L.Schuster Index

Editorial Reviews

In 16 studies presented at a series of seminars at Cambridge University over eight years, mostly British and German economists seek to develop a set of ethics for the financial industry from within its own practices, rather than imposing principles on it that were developed in different contexts. Their topics include a balance-sheet approach to European destiny and macroeconomic responsibility in the financial systems of the two countries, the dynamics of change and risk in corporate and wholesale finance, and the role of central banks in a global competition environment. The volume is published in association with the Anglo-German Foundation for the Study of Industrial Society. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Booknews