"Does too much competition in banking hurt society? What policies can best protect and stabilize banking without stifling it? Institutional responses to such questions have evolved over time, from interventionist regulatory control after the Great Depression to the liberalization policies that...

As financial sectors around the world keep pace with rapidly changing consumer needs, creating new products, services and financial market players, regulatory frameworks are struggling to keep up due to slow-moving, legally defined entities. The tension between dynamic markets and static...