The paper analyzes the influence of credit market liberalization on economic growth in more than 100 economies over a period of 30 years. Liberalizing early and consistently is associated with higher living standards. However, although the timing of the reform seems to matter in raising living...

This chapter of the forthcoming Oxford Handbook of Financial Regulation considers, in broad historical perspective and also with respect to the global financial crisis, why financial systems are crisis-prone and the relationship between financial crises and regulation. It begins with an overview...