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Financing Prosperity in the Next Century, The Changing World of Banking: Setting the Regulatory Agenda

Author

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  • James R. Barth
  • R. Dan Brumbaugh Jr.

Abstract

Barth and Brumbaugh propose a series of reforms aimed at making bank regulations compatible with the changing financial system. They present evidence to support their contention that change in the market for financial services has reduced the importance of depositories as they have traditionally operated. A dramatic increase in nonbank competition has contributed to a substantial shrinkage in the proportion of total financial assets held by depository institutions. The authors assert that any reforms should take into account the dynamic nature of the financial marketplace. Effective reforms tackling bank regulation must pass a two-part test: They must protect the payments and credit mechanisms in order to promote systemic stability, and they must promote competition within the financial services industry

Suggested Citation

  • James R. Barth & R. Dan Brumbaugh Jr., "undated". "Financing Prosperity in the Next Century, The Changing World of Banking: Setting the Regulatory Agenda," Economics Public Policy Brief Archive 8, Levy Economics Institute.
    • Handle: RePEc:lev:levppb:8
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    File URL: http://www.levyinstitute.org/pubs/ppb8.pdf
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    References listed on IDEAS

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    1. Hyman P. Minsky & Dimitri B. Papadimitriou & Ronnie J. Phillips & L. Randall Wray, 1992. "Community Development Banks," Economics Working Paper Archive wp_83, Levy Economics Institute.
    2. Wayne Passmore, 1991. "Can retail depositories fund mortgages profitably?," Finance and Economics Discussion Series 175, Board of Governors of the Federal Reserve System (U.S.).
    3. Mark J. Flannery, 1982. "Deposit insurance creates a need for bank regulation," Business Review, Federal Reserve Bank of Philadelphia, issue Jan/Feb, pages 17-31.
    4. Richard A. Posner, 1974. "Theories of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 5(2), pages 335-358, Autumn.
    5. Calomiris, Charles W., 1990. "Is Deposit Insurance Necessary? A Historical Perspective," The Journal of Economic History, Cambridge University Press, vol. 50(2), pages 283-295, June.
    6. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
    7. Ronnie Phillips, 1992. "The 'Chicago Plan' and New Deal Banking Reform," Economics Working Paper Archive wp_76, Levy Economics Institute.
    8. R. Dan Brumbaugh & Robert E. Litan, 1991. "Ignoring Economics In Dealing With The Savings And Loan And Commercial Banking Crisis," Contemporary Economic Policy, Western Economic Association International, vol. 9(1), pages 36-53, January.
    9. Robert C. Merton & Zvi Bodie, 1992. "On the Management of Financial Guarantees," Financial Management, Financial Management Association, vol. 21(4), Winter.
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    Cited by:

    1. Ronnie J. Phillips, 1994. "The Regulation and Supervision of Bank Holding Companies: A Historical Perspective," Economics Working Paper Archive wp_116, Levy Economics Institute.
    2. Ronnie J. Phillips, "undated". "Narrow Banking Reconsidered, The Functional Approach to Financial Reform," Economics Public Policy Brief Archive ppb_17, Levy Economics Institute.

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