The Global Financial and Economic Crisis, and the Creation of the Financial Stability Board


Stuart P.M. Mackintosh

Published: September 2014


The 2007-2008 global financial and economic crisis precipitated a significant shift in the financial regulatory worldview (or paradigm) of political and central bank leaders from leading advanced and emerging states. With a common consensus on the required financial reforms, these actors moved swiftly to create a new organization. The Financial Stability Board (FSB) now stands at the centre of the global regulatory architecture, but it remains obscure, opaque, and closed to most external observers. The FSB needs to change as it matures to reflect its key role in global financial reform efforts.



Download Paper in PDF format