Mark Walker, a grad student with the Norman Paterson School of International Affairs, has had a paper about his analysis of the Basel III Accord and the European System of Financial Supervisors accepted by Princeton University’s Graduate Journal of Public and International Affairs.
Basel III is a global, voluntary regulatory standard that was developed in response to the deficiencies in financial regulation revealed by the late-2000s financial crisis. The European System of Financial Supervisors is an EU regulatory arrangement that was legislated by the European Parliament in the aftermath of the late-2000s financial crisis.
Walker’s article analyzes the Accord’s planned implementation by the European Union, as well as the creation of the European System of Financial Supervisors in 2011. Using case studies of Hungary and Poland, he examines the regulatory effectiveness of these two policy instruments. He focuses on what different outcomes could have been realized, had they been in place during the EU bank crisis of 2007-2009. The article concludes with policy recommendations that would make these two responses to the 2007-2009 bank crisis more effective.
Walker notes that his research is quite topical given the current absence of a consolidated financial regulatory framework, the potential for future bank crises in the EU and the slower pace at which the EU is implementing the Basel III Accord.
Dane Rowlands, director of NPSIA, says that NPSIA students and alumni are making their mark on the world in many ways. “They hold prominent positions within numerous organizations and government departments in Canada and around the world, and help formulate policies to address important problems that affect us all both now and in the future.”
Thursday, April 25, 2013 in Grad Student Research, News
Share: Twitter, Facebook
