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Financial Supervision Structure In Romania. A Comparative Approach

Author

Listed:
  • Vasile CocriÅŸ
  • Bogdan Căpraru

Abstract

In this paper we assess the financial supervision and regulation structure in Romania. To this purpose, we calculate and interpret the Financial Supervision Unification Index (FSU Index) and the Central Bank as Financial Authority Index (CBFA) at the level of the year 2011 (August), according to Masciandaro's methodology (2004) for all EU27 member countries in order to make comparisons with the Romanian ones. We propose a change in the present Romanian financial supervisory regime from the silos model to a hybrid one, arrangement that supposes a combination of the sectoral model with the objectives- centred model.

Suggested Citation

  • Vasile CocriÅŸ & Bogdan Căpraru, 2011. "Financial Supervision Structure In Romania. A Comparative Approach," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(13), pages 1-23.
    • Handle: RePEc:alu:journl:v:2:y:2011:i:13:p:23
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    More about this item

    Keywords

    central bank; financial stability; Romanian financial supervision and regulation structure; the FSU Index; the CBFA Index;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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