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Financial Restructuring to Sustain Recovery
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summary

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).

Table of Contents

  1. Cover
  2. pp. C-C
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  1. Title Page, Copyright Page
  2. pp. i-iv
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  1. Contents
  2. pp. v-vi
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  1. Introduction: Financial Restructuring to Speed Recovery
  2. Martin Neil Baily, Richard J. Herring, and Yuta Seki
  3. pp. 1-22
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  1. Part I: The U.S. Approach
  2. pp. 23-24
  1. Restructuring the U.S. Housing Market
  2. Franklin Allen, James R. Barth, and Glenn Yago
  3. pp. 25-96
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  1. Bankruptcy and Economic Recovery
  2. Thomas Jackson and David Skeel
  3. pp. 97-122
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  1. Reenergizing the IPO Market
  2. Jay R. Ritter
  3. pp. 123-146
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  1. Part II: The Japanese Approach
  2. pp. 147-148
  1. Reconstructing and Revitalizing Japan's Financial Sector
  2. Yuta Seki
  3. pp. 149-170
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  1. Contributors
  2. pp. 171-172
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  1. Index
  2. pp. 173-181
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  1. Information Page
  2. p. 182
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  1. Back Cover
  2. pp. BC-BC
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