Regulation is often funded with fees paid by regulated firms, potentially creating incentive problems. We use this … that pay higher fees may face more lenient regulation, when leniency increases regulatory budgets in the short term. Our … novel dataset on fees and regulatory actions, we find that firms that pay higher fees face more lenient regulation, which …

Reforms of financial regulation after the crisis of 2007-2009 raise the question of what is the relation between … financial regulators and competition authorities. Should competition authorities play a role in financial regulation? Should …-specific regulation involves authorities actually prescribing desired modes of behavior. The ongoing nature of relations makes regulators …

agendas of state ownership and heavy regulation of key industries, began to institute a series of reforms in the 1980s and …