Transnational Finance Regulation and the Global Economy

Abstract

National and international finance have become dramatically more
globalized and interdependent over the last several generations.
Government oversight, regulation, support, and bailouts are increasingly
important too. We benefit from a revolution in computers, speedy
communications, transport, and surveillance that enables more
sophisticated teamwork, collaboration, and governance. Market forces
are better understood and kept within reasonable harness most of the
time. And yet, the global financial crises of 1929-38, and more recently,
since 2007, placed very heavy stress upon these financial networks.
Because mutual prosperity is now so enmeshed, contemporary global
finances are increasingly transnational in their character and regulatory
traditions.