The consequences of the global financial crisis : the rhetoric of reform and regulation / edited by Wyn Grant and Graham K. Wilson.

Includes bibliographical references and index.

Introduction / Graham K. Wilson and Wyn Grant -- The theory and practice of global economic governance in the early twenty-first century : the limits of multilateralism / Richard Higgott -- The United Kingdom : the triumph of fiscal realism? / Andrew Gamble -- The United States : the strange survival of (neo)liberalism / Graham K. Wilson -- Constructing financial markets : reforming over-the-counter derivatives markets in the aftermath of the financial crisis / Glenn Morgan -- Financial regionalism after the global financial crisis : regionalist impulses and national strategies / William W. Grimes -- Regaining Control? Capital controls and the global financial crisis / Kevin P. Gallagher -- Institutional failure and the global financial crisis / Timothy J. Sinclair -- What Happened to the state-influenced market economies (SMEs)? France, Italy, and Spain confront the crisis as the good, the bad, and the ugly / Vivien A. Schmidt -- Social solidarity in Scandinavia after the fall of finance capitalism / Cathie Jo Martin -- French responses to the global economic crisis : the political economy of "post-dirigisme" and new state activism / Ben Clift -- Paradigm(s) shifting? Responding to China's response to the global financial crisis / Shaun Breslin -- Conclusion / Graham K. Wilson and Wyn Grant.

The Global Financial Crisis is the most serious economic crisis since the Great Depression, and although many have explored its causes, relatively few have focused on its consequences. Unlike earlier crises, no new paradigm seems yet to have come forward to challenge existing ways of thinking and neo-liberalism has emerged relatively unscathed. This crisis, characterized by a remarkable policy stability, has lacked a coherent and innovative intellectual response. This book, however, systematically explores the consequences of the crisis, focusing primarily on its impact on policy and politics. It asks how governments responded to the challenges that the crisis has posed, and the policy and political impact of the combination of both the Global Financial Crisis itself and these responses. It brings together leading academics to consider the divergent ways in which particular countries have responded to the crisis, including the US, the UK, China, Europe, and Scandinavia. The book also assesses attempts to develop global economic governance and to reform financial regulation, and looks critically at the role of credit rating agencies. Unlike earlier crises, no new paradigm has emerged to challenge existing ways of thinking, meaning that neoliberalism has emerged relatively unscathed. The crisis has lacked a coherent and innovative intellectual response and has been characterized by remarkable policy stability.