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The Development and Regulation of Non-Bank Financial Institutions

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  • Jeffrey Carmichael
  • Michael Pomerleano
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    Abstract

    Non-bank financial institutions (NBFIs) are becoming an increasingly important segment of the financial system in some developing countries. This book aims to create awareness of the promise of NBFIs for developing countries and to assist policymakers in creating a coherent policy structure and a sound regulatory and supervisory environment for their development. The first chapter offers a coherent policy framework for addressing the regulation of NBFIs and the second chapter addresses the principles for regulation. Subsequent chapters provide an overview of the insurance industry, mutual funds and pension schemes, leasing and real estate companies, and securities markets, and discusses the specific regulatory framework for these institutions. The final chapter explores development policy challenges confronting emerging markets.

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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/15236/multi0page.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 15236 and published in 2002-03.

    ISBN: 0-8213-4839-6
    Handle: RePEc:wbk:wbpubs:15236

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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: Finance and Financial Sector Development - Non Bank Financial Institutions Finance and Financial Sector Development - Financial Intermediation Banks and Banking Reform Insurance and Risk Mitigation Environmental Economics and Policies;

    References

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    1. World Bank & International Monetory Fund, 2001. "Developing Government Bond Markets : A Handbook," World Bank Publications, The World Bank, number 13865.
    2. Taylor, Michael & Fleming, Alex, 1999. "Integrated financial supervision : lessons of Northern European experience," Policy Research Working Paper Series 2223, The World Bank.
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    Cited by:
    1. Masahiro Kawai & Michael Pomerleano, 2010. "Regulating Systemic Risk," Finance Working Papers 23014, East Asian Bureau of Economic Research.
    2. Masahiro Kawai & Peter J. Morgan, 2012. "Central Banking for Financial Stability in Asia," Macroeconomics Working Papers 23328, East Asian Bureau of Economic Research.
    3. Peter J. Morgan, 2013. "Monetary Policy Frameworks in Asia : Experience, Lessons, and Issues," Macroeconomics Working Papers 23639, East Asian Bureau of Economic Research.
    4. World Bank & International Monetary Fund, 2005. "Financial Sector Assessment : A Handbook," World Bank Publications, The World Bank, number 7259, July.
    5. Muhamad Amar Mohd Farid, 2013. "Monitoring shadow banking and its challenges: the Malaysian experience," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Proceedings of the Sixth IFC Conference on "Statistical issues and activities in a changing environment", Basel, 28-29 August 2012., volume 36, pages 99-122 Bank for International Settlements.
    6. Robert Holzmann & Richard Hinz, 2005. "Old Age Income Support in the 21st century: An International Perspective on Pension Systems and Reform," World Bank Publications, The World Bank, number 7336, July.
    7. Karunagaran A, 2012. "Inter-connectedness of Banks and NBFCs in India: Issues and Policy Implications," Working Papers id:4692, eSocialSciences.
    8. Guido Palazzo & Lena Rethel, 2008. "Conflicts of Interest in Financial Intermediation," Journal of Business Ethics, Springer, vol. 81(1), pages 193-207, August.
    9. Petr MusĂ­lek, 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.
    10. Philip Turner, 2002. "Bond markets in emerging economies: an overview of policy issues," BIS Papers chapters, in: Bank for International Settlements (ed.), The development of bond markets in emerging economies, volume 11, pages 1-12 Bank for International Settlements.

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