Current challenges in financial regulation
AbstractFinancial intermediation and financial services industries have undergone many changes in the past two decades due to deregulation, globalization, and technological advances. The framework for regulating finance has seen many changes as well, with approaches adapting to new issues arising in specific groups of countries or globally. The objectives of this paper are twofold: to review current international thinking on what regulatory framework is needed to develop a financial sector that is stable, yet efficient, and provides proper access to households and firms; and to review the key experiences regarding international financial architecture initiatives, with a special focus on issues arising for developing countries. The paper outlines a number of areas of current debate: the special role of banks, competition policy, consumer protection, harmonization of rules-across products, within markets, and globally-and the adaptation and legitimacy of international standards to the circumstances facing developing countries. It concludes with some areas where more research would be useful.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by The World Bank in its series Policy Research Working Paper Series with number 4103.
Date of creation: 01 Dec 2006
Date of revision:
Banks&Banking Reform; Financial Intermediation; Non Bank Financial Institutions; Economic Theory&Research; ICT Policy and Strategies;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-01-13 (All new papers)
- NEP-BAN-2007-01-13 (Banking)
- NEP-DEV-2007-01-13 (Development)
- NEP-FMK-2007-01-13 (Financial Markets)
- NEP-REG-2007-01-13 (Regulation)
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.:
- Beck, T.H.L., 2006.
"Creating an efficient financial system: Challenges in a global economy,"
Open Access publications from Tilburg University
urn:nbn:nl:ui:12-3508413, Tilburg University.
- Beck, Thorsten, 2006. "Creating an efficient financial system : challenges in a global economy," Policy Research Working Paper Series 3856, The World Bank.
- Rafael Porta & Florencio Lopez-De-Silanes & Andrei Shleifer, 2006.
"What Works in Securities Laws?,"
Journal of Finance,
American Finance Association, vol. 61(1), pages 1-32, 02.
- Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer, . "What Works in Securities Laws?," Working Paper 19491, Harvard University OpenScholar.
- Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer, 2003. "What Works in Securities Law?," NBER Working Papers 9882, National Bureau of Economic Research, Inc.
- Beck, Thorsten & Demirguc-Kunt, Asli & Levine, Ross, 2006.
"Bank supervision and corruption in lending,"
Journal of Monetary Economics,
Elsevier, vol. 53(8), pages 2131-2163, November.
- Beck, T.H.L. & Demirguc-Kunt , A. & Levine, R., 2006. "Bank supervision and corruption in lending," Open Access publications from Tilburg University urn:nbn:nl:ui:12-3125431, Tilburg University.
- Thorsten Beck & Asli Demirguc-Kunt & Ross Levine, 2005. "Bank Supervision and Corruption in Lending," NBER Working Papers 11498, National Bureau of Economic Research, Inc.
- Berglof, Erik & Claessens, Stijn, 2004. "Enforcement and Corporate Governance," Policy Research Working Paper Series 3409, The World Bank.
- Oecd, 2005. "Improving Financial Literacy: Analysis of Issues and Policies," Financial Market Trends, OECD Publishing, vol. 2005(2), pages 111-123.
- Vives,Xavier (ed.), 2006. "Corporate Governance," Cambridge Books, Cambridge University Press, number 9780521032032, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Roula I. Yazigi).
If references are entirely missing, you can add them using this form.