IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

An Assessment of Financial Reform in OECD Countries

  • Malcolm Edey
  • Ketil Hviding
Registered author(s):

    This paper reviews the experience with financial reform in OECD countries. A general overview of the course of deregulation is provided and the economic rationale for financial regulation is discussed. The question of whether financial liberalisation has led to improved welfare is then addressed. It is argued that the benefits of improved allocation of resources and increased efficiency have to be weighed against the possible effects of deregulation on financial stability. While there is no strong evidence of any trend increase in financial volatility in key markets, there have been a number of episodes of instability apparently linked to financial deregulation. However, the analysis of individual crises suggests that inappropriate macroeconomic policies, deficiencies in prudential policies, and microeconomic distortions affecting incentives in the financial sector, were important contributing factors to the financial problems that have been experienced ... Cet article passe en revue les expériences de réforme financière dans les pays de l’OCDE . Un survol général de l’évolution de la déréglementation est suivi d’un débat sur la logique économique de la réglementation financière. Puis la question de savoir si la libéralisation financière à conduit une plus grande bien-être est discutée. Le rapport conclut que les avantages d’une meilleure allocation des ressources et une augmentation de l’efficacité dans le secteur financier doivent être mis en balance avec les éventuels effets de la déréglementation sur la stabilité financière. Bien qu’il n’existe pas de signe manifeste d’un renforcement tendanciel de la volatilité dans les principaux marchés financiers, un certain nombre de périodes de turbulence semble avoir été lié au processus de déréglementation. L’analyse des crises individuelles suggère que des politique macro-économique inadequates, un système prudentiel déficient et des distorsions micro-économiques ont contribué d’une ...

    If 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.

    File URL: http://dx.doi.org/10.1787/515737261523
    Our checks indicate that this address may not be valid because: 403 Forbidden (http://dx.doi.org/10.1787/515737261523 [303 See Other]--> http://www.oecd-ilibrary.org/economics/an-assessment-of-financial-reform-in-oecd-countries_515737261523). If this is indeed the case, please notify ()


    Download Restriction: no

    Paper provided by OECD Publishing in its series OECD Economics Department Working Papers with number 154.

    as
    in new window

    Length:
    Date of creation: 1995
    Date of revision:
    Handle: RePEc:oec:ecoaaa:154-en
    Contact details of provider: Postal: 2 rue Andre Pascal, 75775 Paris Cedex 16
    Phone: 33-(0)-1-45 24 82 00
    Fax: 33-(0)-1-45 24 85 00
    Web page: http://www.oecd.org
    Email:


    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:oec:ecoaaa:154-en. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.