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Market Regulation: Origins and Cultural Perspectives

In: Economics Gone Astray

Author

Listed:
  • Susan M. Phillips
  • Blu Putnam

Abstract

The regulation of derivative markets in the US focuses on protecting individual investors from fraud and criminal activity, assuring the integrity of markets and safeguarding the economy against systematic risk emanating from the financial sector. These three critical objectives are not embedded in one regulatory authority, but are instead distributed across several institutions with very different origins and priorities, based in no small way on the historical context that led to their creation. That is, to appreciate the sources of different regulatory philosophies among the major regulators of derivative markets in the US, one has to examine why each institution was brought into existence and how that shaped its specific regulatory style and priorities…

Suggested Citation

  • Susan M. Phillips & Blu Putnam, 2019. "Market Regulation: Origins and Cultural Perspectives," World Scientific Book Chapters, in: Economics Gone Astray, chapter 8, pages 95-107, World Scientific Publishing Co. Pte. Ltd..
  • Handle: RePEc:wsi:wschap:9781944659592_0008
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    More about this item

    Keywords

    Economics; Macroeconomics; Monetary Policy; Fiscal Policy; Inflation; Risk Management; Federal Reserve; Quantitative Easing; Taylor Rule;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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