A qualitative framework to learn from Failures: reducing risks and developing effective financial policies

This article explores policy failures phenomena and makes suggestions to draw lessons from past mistakes in order to improve financial policies in the future. Existing studies offer limited insights into the methodology of policy failure analysis, since studies generally focus on the mere conceptualization of the topic. This article attempts to answer a key question, namely how to develop a qualitative framework to analyse financial disasters and determine lessons from past financial catastrophes. The results indicate that the proposed framework can inform policy-makers and legislative stakeholders in endeavours to develop more effective financial policies and reduce financial failure risks