Failure of the Dodd-Frank Act
Abstract
Purpose
This paper aims to explain the weaknesses and inconsistencies inherent in the Dodd-Frank Act of 2010 (USA).
Design/methodology/approach
The approach is entirely theoretical and multi-disciplinary (and relies on some third-party empirical research), and it consists of a literature review, critique and the development of theories which are applicable across countries.
Findings
The Dodd-Frank Act is inefficient and inadequate as a response to the global financial crisis. The Dodd-Frank Act has not resulted in significant economic growth and has increased transaction costs and compliance costs for both government agencies and financial services companies.
Originality/value
The author developed the theories introduced in the paper.
Keywords
Citation
Nwogugu, M.I.C. (2015), "Failure of the Dodd-Frank Act", Journal of Financial Crime, Vol. 22 No. 4, pp. 520-572. https://doi.org/10.1108/JFC-11-2014-0053
Publisher
:Emerald Group Publishing Limited
Copyright © 2015, Emerald Group Publishing Limited