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Independent Regulators and Financial Stability : Evidence from Gubernatorial Campaigns and a Progressive Era Policy Experiment

Del Angel, Marco; Richardson, Gary - National Bureau of Economic Research - 2022

Regulatory independence forms a foundation for modern financial systems. To illuminate the value of this ubiquitous institution, we examine a Progressive Era policy experiment in which hitherto independent regulators came under gubernatorial supervision. After this change, failure rates declined...

Persistent link: https://www.econbiz.de/10013191033

Using Deferred Compensation to Strengthen the Ethicsof Financial Regulation

Kane, Edward J. - 2001

Defects in the corporate governance of government-owned enterprises tempt opportunistic officials to breach duties of public stewardship. Corporate-governance theory suggests that incentive-based deferred compensation could intensify the force that common-law duties actually exert on regulatory...

Persistent link: https://www.econbiz.de/10012470321

Ethical Foundations of Financial Regulation

Kane, Edward J. - 1997

Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating financial institutions. Altruistic public-benefits theories treat rules as governmental instruments for increas- ing fairness and efficiency across society as a whole....

Persistent link: https://www.econbiz.de/10012472798

Durable Financial Regulation : Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions

Nakamura, Leonard - 2011

This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It specifically describes a potentially large macro-micro database for the U.S. based on an extended version of the Flow of Funds. I argue that such a database would have been of...

Persistent link: https://www.econbiz.de/10012461652

Sequencing of Reforms, Financial Globalization, and Macroeconomic Vulnerability

Edwards, Sebastian - 2008

I use a large cross country data set and panel probit analysis to investigate the way in which the interaction between trade and financial openness affect the probability of external crises. This analysis is related to debate on the adequate sequencing of reform. I also investigate the role...

Persistent link: https://www.econbiz.de/10012464263

Bank Chartering and Political Corruption in Antebellum New York : Free Banking as Reform

Bodenhorn, Howard - 2004

One traditional and oft-repeated explanation of the political impetus behind free banking connects the rise of Jacksonian populism and a rejection of the privileges associated with corporate chartering. A second views free banking as an ill-informed inflationist, pro business response to the...

Persistent link: https://www.econbiz.de/10012468214

Rise of Bank Competition : Evidence from Banking Deregulation in China

Gao, Haoyu - 2019

deregulation in China. Such deregulation leads to higher screening standards, lower interest rates, and lower delinquency rates for …

Persistent link: https://www.econbiz.de/10012479745

The Internationalization of the RMB, Capital Market Openness, and Financial Reforms in China

Aizenman, Joshua - 2015

China in the coming years. China had been a prime example of exported growth, benefiting from learning by doing, and by …, and the Global Financial Crisis forced China toward rebalancing, which is a work in progress. Reflecting on the …

Persistent link: https://www.econbiz.de/10012457723

China's Financial System : Opportunities and Challenges

Allen, Franklin - 2012

We provide a comprehensive review of China's financial system, and explore directions of future development. First, the … resources in the economy has been limited and ineffective. We discuss issues related to the further development of China's stock … China are those that reduce the likelihood of damaging financial crises, including a banking sector crisis, a real estate or …

Persistent link: https://www.econbiz.de/10012460830

What We Learn from China's Rising Shadow Banking : Exploring the Nexus of Monetary Tightening and Banks' Role in Entrusted Lending

Chen, Kaiji - 2016

We argue that China's rising shadow banking was inextricably linked to potential balance-sheet risks in the banking … banking (the banking system) in China …

Persistent link: https://www.econbiz.de/10012456782

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