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Financial Sector Regulation and Reforms in Emerging Markets: An Overview

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  • Prasad, Eswar

    (Cornell University)

Abstract

This paper provides an overview of the complex conceptual and practical challenges that emerging market economies face as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest for financial stability with the imperatives of financial development and broader financial inclusion. I argue that these objectives can in fact reinforce one another. I also discuss aspects of macroeconomic policies and cross-border regulation that have implications for financial stability and the resilience of the financial sector in emerging markets.

Suggested Citation

  • Prasad, Eswar, 2010. "Financial Sector Regulation and Reforms in Emerging Markets: An Overview," IZA Discussion Papers 5233, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp5233
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    References listed on IDEAS

    as
    1. Shyamala Gopinath, 2010. "Macro-prudential Approach to Regulation - Scope and Issues," Working Papers id:2917, eSocialSciences.
    2. Eswar S. Prasad, 2010. "Financial Sector Regulation and Reforms in Emerging Markets: An Overview," NBER Working Papers 16428, National Bureau of Economic Research, Inc.
    3. Gill Hammond & Ravi Kanbur & Eswar Prasad, 2009. "Monetary Policy Challenges for Emerging Market Economies," Chapters, in: Gill Hammond & Ravi Kanbur & Eswar Prasad (ed.), Monetary Policy Frameworks for Emerging Markets, chapter 1, Edward Elgar Publishing.
    4. Eswar S. Prasad, 2011. "Rebalancing Growth in Asia," International Finance, Wiley Blackwell, vol. 14(1), pages 27-66, April.
    5. Mark Aguiar & Gita Gopinath, 2007. "Emerging Market Business Cycles: The Cycle Is the Trend," Journal of Political Economy, University of Chicago Press, vol. 115(1), pages 69-102.
    6. Gill Hammond & Ravi Kanbur & Eswar Prasad (ed.), 2009. "Monetary Policy Frameworks for Emerging Markets," Books, Edward Elgar Publishing, number 13504.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    financial inclusion; financial regulation; financial development; emerging markets;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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