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Regulatory Structure for Financial Stability and Development

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Abstract

Stricter regulatory surveillance in emerging market economies (EMEs) largely insulated their financial systems from the crisis. Development and convergence of regulatory apparatus has been rapid. In some respects, EMEs may be closer to new global norms. The development of financial markets, however, is a major aim for regulation in EMEs along with financial stability. The success in achieving these objectives in the Indian case is examined. Some problems of regulatory overlap and coordination should be resolved keeping in mind the lessons of the crisis.

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  • Ashima Goyal, 2010. "Regulatory Structure for Financial Stability and Development," Working Papers id:2458, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:2458
    Note: Institutional Papers
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    References listed on IDEAS

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    1. Edward L. Glaeser & Andrei Shleifer, 2003. "The Rise of the Regulatory State," Journal of Economic Literature, American Economic Association, vol. 41(2), pages 401-425, June.
    2. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998. "Law and Finance," Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1113-1155, December.
    3. M. Ramesh & Michael Howlett (ed.), 2006. "Deregulation and its Discontents," Books, Edward Elgar Publishing, number 4210.
    4. Richard A. Posner, 1974. "Theories of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 5(2), pages 335-358, Autumn.
    5. Ashima Goyal, 2006. "Regulation and Deregulation of the Stock Market in India," Chapters, in: M. Ramesh & Michael Howlett (ed.), Deregulation and its Discontents, chapter 9, Edward Elgar Publishing.
    6. Laffont,Jean-Jacques, 2005. "Regulation and Development," Cambridge Books, Cambridge University Press, number 9780521549486, January.
    7. Goyal, Ashima, 2002. "Reform proposals from developing Asia: finding a win-win strategy," MPRA Paper 30527, University Library of Munich, Germany.
    8. repec:cup:cbooks:9780521840187 is not listed on IDEAS
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    1. Ashima Goyal, 2012. "The Future Of Financial Liberalization In South Asia," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 19(1), pages 63-96, June.
    2. Ashima Goyal, 2013. "Assessing Changes in the Global Financial Architecture from an Emerging Market Perspective," Foreign Trade Review, , vol. 48(4), pages 461-480, November.

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    More about this item

    Keywords

    financial; emerging market economices; EMEs; firms; development; stability; technology; asymmetric; monopoly; imperfect informationmarket failures; incentives; procyclicality; coordination; rules versus principles; development; Indian;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption

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