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The Financial Sector and Deregulation in Australia: Drivers of Reform or Reluctant Followers?

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  • Amanda Fitzgibbons
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    This paper argues that contrary to capture theory, a key feature of financial deregulation in Australia was the lack of support from financial sector interest groups. An examination of the Campbell Inquiry (1979-1981) reveals that deregulation was not initiated by either the regulated banks or unregulated non-bank financial institutions (NBFIs). In fact, both groups were resistant to change prior to the establishment of the Inquiry. During the Inquiry, neither group advocated wide-ranging deregulation, preferring the retention of many financial regulations.

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    Article provided by Taylor & Francis Journals in its journal Accounting History Review.

    Volume (Year): 16 (2006)
    Issue (Month): 3 ()
    Pages: 371-387

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    Handle: RePEc:taf:acbsfi:v:16:y:2006:i:3:p:371-387
    DOI: 10.1080/09585200600969455
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