Bank Regulation and Supervision: What Works Best?
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TLDR
In this paper, the authors assess two broad and competing theories of government regulation: the helping hand approach, according to which governments regulate to correct market failures, and the grabbing-hand approach according to where government regulates to support political constituency.About:
This article is published in Journal of Financial Intermediation.The article was published on 2001-11-30 and is currently open access. It has received 1665 citations till now. The article focuses on the topics: Bank regulation & Government failure.read more
Citations
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The Economic Consequences of Legal Origins
TL;DR: The authors argued that the historical origin of a country's laws is highly correlated with a broad range of its legal rules and regulations, as well as with economic outcomes, and they summarized this evidence and attempted a unified interpretation.
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Bank governance, regulation and risk taking
TL;DR: In this paper, the authors conduct an empirical assessment of theories concerning risk taking by banks, their ownership structures, and national bank regulations, and show that bank risk taking varies positively with the comparative power of shareholders within the corporate governance structure of each bank.
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Private credit in 129 countries
TL;DR: In this article, the authors investigate cross-country determinants of private credit, using new data on legal creditor rights and private and public credit registries in 129 countries, and find that both creditor protection through the legal system and information sharing institutions are associated with higher ratios of the private credit to GDP.
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What Works in Securities Laws
TL;DR: The authors examine the effect of securities laws on stock market development in 49 countries and find little evidence that public enforcement benefits stock markets, but strong evidence that laws mandating disclosure and facilitating private enforcement through liability rules benefit stock markets.
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A more complete conceptual framework for SME finance
TL;DR: In this article, the authors propose a more complete conceptual framework for analysis of SME credit availability issues, and emphasize a causal chain from policy to financial structures, which affect the feasibility and profitability of different lending technologies.
References
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Law and Finance
TL;DR: In this article, the authors examined legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries and found that common-law countries generally have the strongest, and French civil law countries the weakest, legal protections of investors, with German- and Scandinavian-civil law countries located in the middle.
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Large sample properties of generalized method of moments estimators
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Finance and Growth: Schumpeter Might Be Right
TL;DR: In this paper, the authors examined a cross-section of about 80 countries for the period 1960-89 and found that various measures of financial development are strongly associated with both current and later rates of economic growth.
Book
The Theory of Economic Regulation
TL;DR: In this article, the authors argue that regulation is acquired by the industry and is designed and operated primarily for its benefit, and that the state has one basic resource which in pure principle is not shared with even the mightiest of its citizens.