2009, English, Article, Working paper edition: Regulatory reform [electronic resource] : integrating paradigms / Augusto de la Torre, Alain Ize. Torre, Augusto de la.

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/44191498
Published
  • [Washington, D.C. : World Bank, 2009]
Language
  • English

Edition details

Title
  • Regulatory reform : integrating paradigms /​ Augusto de la Torre, Alain Ize.
Author
  • Torre, Augusto de la.
Other Authors
  • Ize, Alain.
  • World Bank
Published
  • [Washington, D.C. : World Bank, 2009]
Medium
  • [electronic resource]
Series
Subjects
Summary
  • "The Subprime crisis largely resulted from failures to internalize systemic risk evenly across financial intermediaries and recognize the implications of Knightian uncertainty and mood swings. A successful reform of prudential regulation will need to integrate more harmoniously the three paradigms of moral hazard, externalities, and uncertainty. This is a tall order because each paradigm leads to different and often inconsistent regulatory implications. Moreover, efforts to address the central problem under one paradigm can make the problems under the others worse. To avoid regulatory arbitrage and ensure that externalities are uniformly internalized, all prudentially regulated intermediaries should be subjected to the same capital adequacy requirements, and unregulated intermediaries should be financed only by regulated intermediaries. Reflecting the importance of uncertainty, the new regulatory architecture will also need to rely less on markets and more on "holistic" supervision, and incorporate countercyclical norms that can be adjusted in light of changing circumstances. "--World Bank web site.
Notes
  • Title from PDF file as viewed on 3/​17/​2009.
  • Includes bibliographical references.
  • Also available in print.
Technical Details
  • System requirements: Adobe Acrobat Reader.
  • Mode of access: World Wide Web.
Language
  • English
Libraries Australia ID
Contributed by
Libraries Australia

Get this edition

None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment