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Aligning Financial Supervisory Structures with Country Needs

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Author Info

  • Jeffrey Carmichael
  • Alexander Fleming
  • David Llewellyn
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    Abstract

    this book is the result of a World Bank conference on regulatory structure organized to give policymakers an opportunity to reflect on the worldwide trend toward structural change and, in particular, the amalgamation of regulatory agencies. Within this trend, a number of competing models of regulatory structure have emerged, each with its group of proponents. These models range from an institutional structure in which each regulatory agency is assigned to a group of industry participants, through varying degrees of regulatory integration, to a unified structure in which all key regulatory responsibilities are combined within one agency. Rather than highlight one-or more-model as necessarily superior to the others, the conference sought to take an objective and balanced approach to the topic. This objective is reflected in a number of the presentations gathered here, including chapter 2, which, by providing a balanced overview of the alternatives, outlines the spectrum of possibilities and the range of issues that might influence the decision to choose a particular structure in a given situation. The conference was structured around three themes: the choice of an appropriate structure for regulation, problems relating to management of the transition to a new structure, and issues involved in implementing the new regime effectively.

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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/14876/302580PAPER0Al1inancial0supervisory.pdf?sequence=1
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    Bibliographic Info

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    This book is provided by The World Bank in its series World Bank Publications with number 14876 and published in 2004-09.

    ISBN: 0-8213-6002-7
    Handle: RePEc:wbk:wbpubs:14876

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    Postal: 1818 H Street, N.W., Washington, DC 20433
    Phone: (202) 477-1234
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    Web page: https://openknowledge.worldbank.org
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    Related research

    Keywords: Banks and Banking Reform Finance and Financial Sector Development - Financial Intermediation Environmental Economics and Policies Administrative and Regulatory Law Governance - National Governance;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Brimmer, Andrew F, 1989. "Distinguished Lecture on Economics in Government: Central Banking and Systemic Risks in Capital Markets," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 3-16, Spring.
    2. Michael Taylor & Marc Quintyn, 2002. "Regulatory and Supervisory Independence and Financial Stability," IMF Working Papers 02/46, International Monetary Fund.
    3. de Luna Martinez, Jose & Rose, Thomas A., 2003. "International survey of integrated financial sector supervision," Policy Research Working Paper Series 3096, The World Bank.
    4. Graeme Thompson, 1996. "Regulatory Policy Issues in Australia," RBA Annual Conference Volume, in: Malcom Edey (ed.), The Future of the Financial System Reserve Bank of Australia.
    5. Udaibir S. Das & Marc Quintyn, 2002. "Crisis Prevention and Crisis Management," IMF Working Papers 02/163, International Monetary Fund.
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    Cited by:
    1. Petr Musílek, 2006. "Comparison Models of the Financial Regulation and Supervision: Advantages and Disadvantages," Český finanční a účetní časopis, University of Economics, Prague, vol. 2006(4), pages 8-22.
    2. Petr Musílek, 2008. "Institutional Arrangement of Financial Markets Supervision: The Case of the Czech Republic," European Financial and Accounting Journal, University of Economics, Prague, vol. 2008(4), pages 6-21.
    3. Cihák, Martin & Podpiera, Richard, 2008. "Integrated financial supervision: Which model?," The North American Journal of Economics and Finance, Elsevier, vol. 19(2), pages 135-152, August.
    4. Melecky, Martin & Podpiera, Anca Maria, 2013. "Institutional structures of financial sector supervision, their drivers and historical benchmarks," Journal of Financial Stability, Elsevier, vol. 9(3), pages 428-444.

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