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Essays in International Financial Governance

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dc.contributor.authorThorum, Mark Stuarten
dc.contributor.committeechairLuke, Timothy W.en
dc.contributor.committeechairTaylor, Charles L.en
dc.contributor.committeememberMorgan, George E.en
dc.contributor.committeememberStivachtis, Yannis A.en
dc.contributor.departmentSchool of Public and International Affairsen
dc.date.accessioned2017-12-28T07:00:12Zen
dc.date.available2017-12-28T07:00:12Zen
dc.date.issued2015-07-06en
dc.description.abstractThe 2008 financial crisis revealed systemic weaknesses in the global financial architecture, gave rise to the most severe economic collapse since the Great Depression and engendered a fundamental shift in the prevailing consensus on financial governance. It reminded us of the fragility of the international financial system and the politically unacceptable costs to society when it fails. This dissertation adds to the literature on the governance of private and public sector financial institutions. It presents a conceptual framework of linkage between the governance of financial institutions, systemic risk and financial crises. It is based on a review of the empirical and theoretical literature on the influence of financial regulation and governance on the stability of the international financial system. The dissertation examines the application of financial governance in three different contexts: (i) the introduction of a common regulatory framework for the European securities industry, known as MIFID; (ii) the introduction of a risk governance framework at a US federal agency, the US Export-Import Bank, and (iii) the introduction of performance metrics among Export Credit Agencies that operate within a common governance framework known as the Arrangement on Officially Supported Export Credits. In addition, the dissertation provides specific policy recommendations designed to enhance the portfolio risk management practices of the US Export Import Bank. By extension, these recommendations are relevant to a wider audience of federal agencies with similar portfolio credit risks and may help inform the design of a robust risk management framework that is critical to the government's ability to manage its burgeoning credit portfolio.en
dc.description.degreePh. D.en
dc.format.mediumETDen
dc.identifier.othervt_gsexam:5739en
dc.identifier.urihttp://hdl.handle.net/10919/81430en
dc.publisherVirginia Techen
dc.rightsIn Copyrighten
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/en
dc.subjectfinancial governanceen
dc.subjectfinancial crisisen
dc.subjectsystemic risken
dc.subjectexport credit agencyen
dc.titleEssays in International Financial Governanceen
dc.typeDissertationen
thesis.degree.disciplinePlanning, Governance, and Globalizationen
thesis.degree.grantorVirginia Polytechnic Institute and State Universityen
thesis.degree.leveldoctoralen
thesis.degree.namePh. D.en

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