Financial Regulation in the Global Economy (Integrating National Economies) - Hardcover

Herring, Richard J.; Litan, Robert E.

Hardcover

ISBN 10: 0815752849 ISBN 13: 9780815752844

Publisher: Brookings Institution Press, 1994

Synopsis

In recent years, the major industrialized nations have developed cooperative procedures for supervising banks, harmonized their standards for bank capital requirements, and initiated cooperative understanding about securities market supervision. This book assesses what further coordination and harmonization in financial regulation will be required in an era of increased globalization.
A volume of Brookings' Integrating National Economies Series

About this title

About the Author

Richard J. Herring is director of the Joseph H. Lauder Institute of Management and International Studies and codirector of the Wharton Financial Institutions Center at the University of Pennsylvania.Robert E. Litan is a senior fellow in Economic Studies at Brookings and vice president for research and policy at the Kauffman Foundation.

From the Back Cover

This book, part of the Integrating National Economies series, examines the case for international harmonization of financial regulation and supervision. Richard J. Herring and Robert E. Litan analyze three basic questions that arise as financial institutions seek to broaden their global reach: What should be the rights of access to markets in different countries? Whose rules should apply? And, which regulatory bodies should enforce these rules? The authors provide a framework for understanding the measures to regulate international financial institutions that countries have agreed on so far. They project potential changes in the international marketplace and the implications of those changes for regulatory policy. They discuss how policymakers should respond and, given the relevant policy constraints, how they are likely to respond. The book concludes with proposals designed to emphasize discipline of financial institutions by the market rather than by regulators.

Edition details

• Publisher: Brookings Institution Press
• Publication date: 1994
• Language: English
• ISBN 10: 0815752849
• ISBN 13: 9780815752844
• Binding: Hardcover
• Number of pages: 226