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Financial Regulation in Australia

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  • Kevin Davis

Abstract

This paper examines whether a regulatory distinction between banks and other financial institutions, as proposed by the Campbell and Martin Reports, is an appropriate ingredient of financial regulation. Three specific issues relevant to the making of such a distinction are examined. They are entry to the payments mechanism, monetary control, and prudential regulation. In examining each of these three issues the roles of imperfect information and other financial market characteristics are stressed. The paper concludes that while a regulatory distinction between banks and others may be appropriate, the distinctions suggested by the Reports and associated regulatory frameworks are unwarranted.

Suggested Citation

  • Kevin Davis, 1984. "Financial Regulation in Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 17(3), pages 135-146, November.
    • Handle: RePEc:bla:ausecr:v:17:y:1984:i:3:p:135-146
    DOI: 10.1111/j.1467-8462.1984.tb00466.x
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    References listed on IDEAS

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    1. K. T. Davis & M. K. Lewis, 1982. "Can Monetary Policy Work in a Deregulated Capital Market?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 15(1), pages 9-21, April.
    2. Kevin Davis, 1981. "Reserve Requirement Changes as a Monetary Instrument," School of Economics and Public Policy Working Papers 1981-10, University of Adelaide, School of Economics and Public Policy.
    3. Peter L. Swan, 1983. "The Campbell Report And Deregulation," Economic Papers, The Economic Society of Australia, vol. 2(S1), pages 177-193, April.
    4. Kevin Davis & Mervyn Lewis, 1983. "Monetary Tactics And Monetary Targets: A Guide To Post-Campbell Monetary Policy," Economic Papers, The Economic Society of Australia, vol. 2(S1), pages 82-100, April.
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    Cited by:

    1. Kevin Davis, 1990. "Bank Capital Adequacy Requirements and Monetary Policy," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 23(2), pages 69-77, June.

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