Emerald Publishing Limited Understanding Financial Stability: 1 (The Theory and Practice of Financial Stability, 1)

Product Description Since the outbreak of the US subprime crisis in 2007, financial stability has become a pressing item in the agenda of governments and policy-makers worldwide. However, to date, there are no books that provide a comprehensive analysis of financial stability in all of its dimensions.Understanding Financial Stability undertakes an in-depth analysis of all the concepts and issues related to financial stability. It establishes a general framework for a holistic assessment of financial stability, provides a comprehensive analysis pertaining to the genesis of financial crises and offers key terms and elements embodied in financial stability. Posing the question of whether financial stability should rely only on resilience or predictability issues when it comes to handling crises, the book provides:  Extensive coverage of all key authorities involved in the field of financial stability A consideration of the political economy A complete and in-depth assessment of crises in the world based on full historical coverage; including a definition of crises, various theories of crises, costs related to crises, types of crises and policy responses to crises.  This book will prove valuable to central bankers, economists and policy-makers who are involved in the field of financial stability, as well as researchers studying the field. Review ‘Indranarain Ramlall's proposal is a great attempt at giving a comprehensive view of financial stability from a theoretical, practical and policy perspective. It aims at providing future students with the tools to understand the framework in which financial stability is assessed and understood today by international organisations and central banks across the world. To my knowledge, this is the only book that covers such a wide range of topics related to financial stability. It, therefore, has the potential to become a good reference book on the topic. I believe that Indranarain Ramlall has made a great proposal to provide a “big picture view” on financial stability. I look forward to reading the textbook!’ -- Celine Tcheng, Central Bank of France‘Financial stability has become a major concern for central banks, after the 2008 global financial crisis. More and more research is tackling topics regarding the role of the financial system in macroeconomic models and the implementation of macroprudential policy. Therefore, a comprehensive overlook of financial stability issues, such as the one offered by The Theory and Practice of Financial Stability can prove particularly useful for experts working in the financial system, central bankers included. The textbook covers a diverse set of topics from policy matters to risk assessment analysis.’ -- Elena Banu, Central Bank of Romania‘This book is a comprehensive work on one of the most actual topics in the aftermath of the Great Recession. It covers a wide range of topics on financial stability complementing theoretical frameworks with practical examples. Starting with a conceptual description on financial stability, the book overviews a history of the major financial crises and Basel regulation rules. Particularly useful is an inquiry of the financial stability perspectives across different asset classes and economy sectors. Another beneficial feature of this book is a complete oversight of stress testing methodologies. The book is a thorough compilation of topics on financial stability and definitely deserves a place on the bookshelves of central bankers, government and private institutions’ officials.’ -- Vaidotas Sumskis, Bank of Lithuania‘Dr Indranarain's book is an actual textbook for interpreting interrelations between all aspects and sectors of the international economy and will surely be a highly useful tool for credit institutions, investors, practitioners as well as academics. From a Central Bank's point of view this book provides an integrated approach to macroeconomic environment and the interactions between the various f