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The Accountability of Financial Sector Supervisors; Principles and Practice

Taylor, Michael; Quintyn, Marc; Hüpkes, Eva H. G. - International Monetary Fund (IMF) - 2005

Policymakers' uneasiness about granting independence to financial sector regulators stems to a large extent from the lack of familiarity with, and elusiveness of, the concept of accountability. This paper gives operational content to accountability and argues that it is possible to do so in a...

Persistent link: https://www.econbiz.de/10005825809

Does Regulatory Governance Matter for Financial System Stability? An Empirical Analysis

Das, Udaibir S.; Quintyn, Marc; Chenard, Kina - International Monetary Fund (IMF) - 2004

, along with variables reflecting macroeconomic conditions, the structure of the banking system, and the quality of political …

Persistent link: https://www.econbiz.de/10005825836

Crisis in Competitive Versus Monopolistic Banking Systems

Smith, Bruce D.; Nicoló, Gianni De; Boyd, John H. - International Monetary Fund (IMF) - 2003

risk-averse depositors. A "banking crisis" is defined as a case in which banks exhaust their reserve assets. Under … different model specifications, the banking industry is either a monopoly bank or a competitive banking industry. If the nominal … rate of interest (rate of inflation) is below (above) some threshold, a monopolistic banking system will always result in a …

Persistent link: https://www.econbiz.de/10005826156

The Fear of Freedom; Politicians and the Independence and Accountability of Financial Sector Supervisors

Taylor, Michael; Quintyn, Marc; Ramirez, Silvia - International Monetary Fund (IMF) - 2007

Compared with the case of central bank independence, independence for financial sector supervisors remains more controversial. This paper analyzes changes in independence and accountability arrangements in a set of 32 countries that overhauled their legal and/or institutional frameworks for...

Persistent link: https://www.econbiz.de/10005768825

Will they Sing the Same Tune? Measuring Convergence in the New European System of Financial Supervisors

Quintyn, Marc; Masciandaro, Donato; Nieto, María - International Monetary Fund (IMF) - 2009

In June 2009 a new financial supervisory framework for the European Union (EU) was endorsed, consisting of a macro- and a micro-prudential pillar. The latter is composed of a Steering Committee, a supranational layer and a network of national supervisory authorities at the bottom, de facto...

Persistent link: https://www.econbiz.de/10008528688

Banking Crises and Crisis Dating; Theory and Evidence

Loukoianova, Elena; Nicoló, Gianni De; Boyd, John H. - International Monetary Fund (IMF) - 2009

Many empirical studies of banking crises have employed "banking crisis" (BC) indicators constructedusing primarily … information on government actions undertaken in response to bank distress. Weformulate a simple theoretical model of a banking …

Persistent link: https://www.econbiz.de/10008528706

Bank Risk-Taking and Competition Revisited; New Theory and New Evidence

Nicoló, Gianni De; Jalal, Abu M.; Boyd, John H. - International Monetary Fund (IMF) - 2006

This paper studies two new models in which banks face a non-trivial asset allocation decision. The first model (CVH) predicts a negative relationship between banks' risk of failure and concentration, indicating a trade-off between competition and stability. The second model (BDN) predicts a...

Persistent link: https://www.econbiz.de/10005605287

Financial Supervisory Independence and Accountability-Exploring the Determinants

Masciandaro, Donato; Quintyn, Marc; Taylor, Michael - International Monetary Fund (IMF) - 2008

We analyze recent trends in, and determinants of, financial supervisory governance. We first calculate levels of supervisory independence and accountability in 55 countries. The econometric analysis of the determinants indicates that the quality of public sector governance plays a decisive role...

Persistent link: https://www.econbiz.de/10010790276

The Economic Crisis; Did Financial Supervision Matter?

Quintyn, Marc; Pansini, Rosaria Vega; Masciandaro, Donato - International Monetary Fund (IMF) - 2011

The Asian financial crisis marked the beginning of worldwide efforts to improve the effectiveness of financial supervision. However, the crisis that started in 2007?08 was a crude awakening: several of these improvements seemed unable to avoid or mitigate the crisis. This paper brings the first...

Persistent link: https://www.econbiz.de/10009370541