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


  • Amanda Fitzgibbons


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.

Suggested Citation

  • Amanda Fitzgibbons, 2006. "The Financial Sector and Deregulation in Australia: Drivers of Reform or Reluctant Followers?," Accounting History Review, Taylor & Francis Journals, vol. 16(3), pages 371-387.
  • Handle: RePEc:taf:acbsfi:v:16:y:2006:i:3:p:371-387 DOI: 10.1080/09585200600969455

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    References listed on IDEAS

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