commercialization, rigor of regulation, and the extent of competition. Meaningful interventions in microfinance will require making …

-border syndicated loan market. Lending provided through a foreign subsidiary is subject to subsidiary-country regulation and … stringent bank regulation and supervision consistent with regulatory arbitrage, but that they prefer to originate loans in …

-border syndicated loan market. Lending provided through a foreign subsidiary is subject to subsidiary-country regulation and … stringent bank regulation and supervision consistent with regulatory arbitrage, but that they prefer to originate loans in …

-border syndicated loan market. Lending provided through a foreign subsidiary is subject to subsidiary-country regulation and … stringent bank regulation and supervision consistent with regulatory arbitrage, but that they prefer to originate loans in …

insufficient. This paper proposes a pragmatic approach to re-orienting financial regulation to have at its core the objective of …