 | Engineering the Financial Crisis This study examines the role of the Basel Accords--a set of international standards regulating bank capital--in the global financial crisis. It argues that because the accords were so widely adopted, they effectively homogenized the banking industry, increasing the systemic risk they were intended to prevent. Jeffrey Friedman is a visiting scholar in the Department of Government at the University of Texas, Austin. He is the editor of What Caused the Financial Crisis, also available from the University of Pennsylvania Press, and editor of the journal Critical Review. Wladimir Kraus is a doctoral candidate in economics at Universite Paul Cezanne Aix-Marseille and associate editor of Critical Review. Together, Friedman and Kraus maintain Causes of the Crisis, a blog that publishes updated information about the financial crisis. |
