We explore the determinants of U.S. financial market regulation with a formal model of the policy-making process in which government regulates financial risk at both the firm and systemic levels, and test these predictions with a novel, comprehensive data set of financial regulatory laws enacted...

We explore the determinants of market regulation with an analysis of the policy-making process in which the legislature delegates authority to an executive agency and special interests can lobby the executive agency. We discuss how the mere threat of administrative lobbying by the industry may...

Over the past three decades, antitrust laws have proliferated across the globe. International institutions and governments have promoted antitrust policy as an important regulatory tool to enhance economic performance. At the same time, we have scant empirical evidence on whether these policies...