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Financial Restructuring to Sustain Recovery

Financial Restructuring to Sustain Recovery

ISBN: 9780815725244
Publisher: Brookings Institution Press/Nomura Inst.
Publication Date: 2013-12-27
Number of pages: 181
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$25.05


The financial crisis of 2007–08 and the Great Recession caused more widespread economic trauma than any event since the Great Depression. With a slow and uneven recovery, encouraging stability and growth is critical.


Financial Restructuring to Sustain Recovery maintains that while each part of the financial services industry can play a useful role in revving up the U.S. economic engine to full capacity, the necessary reforms are sometimes subtle and often difficult to implement. Editors Martin Neil Baily, Richard Herring, and Yuta Seki and their coauthors break recovery down by three areas:


Restructuring the housing finance market


Reforming the bankruptcy process


Reenergizing the market for initial public offerings


Included are lessons drawn from Japan's experience in overcoming its long-lasting financial crisis after the collapse of its real estate market in the 1990s.


Contributors: Franklin Allen (Wharton School, University of Pennsylvania), James R. Barth (Auburn University College of Business; Milken Institute), Thomas Jackson (Simon School of Business, University of Rochester), Jay R. Ritter (Warrington College of Business, University of Florida), David Skeel (University of Pennsylvania Law School), and Glenn Yago (Milken Institute).


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