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Financial System Reform: Regulatory Structure, Financial Safety, Systemic Stability and Competition Policy

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  • Warren Hogan
  • Ian G. Sharpe

Abstract

The paper provides an assessment of the recommendations of the Financial System Inquiry and the Government's reform proposals relating to the regulatory structure, financial safety and the mega-prudential regulator, systemic stability, and competition policy in the financial sector. It is argued that key reform proposals are based on explicit or implicit assumptions relating to the workings of financial markets and institutions. The Report fails to test those assumptions against contemporary and prospective circumstances to determine the practical worth of the recommendations.

Suggested Citation

  • Warren Hogan & Ian G. Sharpe, 1997. "Financial System Reform: Regulatory Structure, Financial Safety, Systemic Stability and Competition Policy," The Economic and Labour Relations Review, , vol. 8(2), pages 318-332, December.
    • Handle: RePEc:sae:ecolab:v:8:y:1997:i:2:p:318-332
    DOI: 10.1177/103530469700800209
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    References listed on IDEAS

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    1. Jagtiani, Julapa & Khanthavit, Anya, 1996. "Scale and scope economies at large banks: Including off-balance sheet products and regulatory effects (1984-1991)," Journal of Banking & Finance, Elsevier, vol. 20(7), pages 1271-1287, August.
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