Thesis title: "The Law and Economics of Regulating Securitisation: Basel III, Financial Stability, and the UK Housing Price Bubble"
Supervisors: Dr Vincenzo Bavoso and Dr Michael Galanis
Abstract: The thesis considers flaws in pre-crisis mainstream economics to demonstrate the failure to detect the contributions of asset securitisation to the pre-crisis UK credit boom and the housing price bubble. It is hypothesised that asset securitisation significantly accelerated the credit boom, which translated into housing markets through the securitisation of mortgages. The potential for financial instability is severe. A new macroprudential framework for regulating financial markets in light of the effects of securitisation is necessary. Analysis of Basel III in light of this macroprudential framework will determine whether new measures could have prevented the crisis.
Teaching Assistant in European Union Law