A new theory of financial regulation: Predicting, measuring and preventing financial crises

Currie, CV

A new theory of financial regulation: Predicting, measuring and preventing financial crises

Currie, CV

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Publisher:: Elsevier BV, North-Holland
Publication Type:: Journal Article
Citation:: Journal of Socio-Economics, 2006, 35 (1), pp. 48 - 71
Issue Date:: 2006-01

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Field	Value	Language
dc.contributor.author	Currie, CV	en_US
dc.date.issued	2006-01	en_US
dc.identifier.citation	Journal of Socio-Economics, 2006, 35 (1), pp. 48 - 71	en_US
dc.identifier.issn	1053-5357	en_US
dc.identifier.uri	http://hdl.handle.net/10453/5137
dc.description.abstract	The frequency of financial crises in the last 20 years can be attributed to the lack of a comprehensive theory of financial regulation to guide policy makers. Existing theories fail to define the range of regulatory models, the causes of regulatory failure, and how to measure and prevent it. Faulty design of regulatory models, and the lack of ongoing performance monitoring incorporating early warning systems, is disrupting economic and social development. The new theory illustrates the necessity for a staged approach to liheratisation, which first assesses the capacity to conduct effective prudential supervision. before attempts are made to remove protective measures.	en_US
dc.publisher	Elsevier BV, North-Holland	en_US
dc.relation.ispartof	Journal of Socio-Economics	en_US
dc.subject.classification	Economics	en_US
dc.title	A new theory of financial regulation: Predicting, measuring and preventing financial crises	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	35	en_US
utslib.for	1402 Applied Economics	en_US
utslib.for	1401 Economic Theory	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.consider-herdc	true	en_US
pubs.issue	1	en_US
pubs.volume	35	en_US

Abstract:

The frequency of financial crises in the last 20 years can be attributed to the lack of a comprehensive theory of financial regulation to guide policy makers. Existing theories fail to define the range of regulatory models, the causes of regulatory failure, and how to measure and prevent it. Faulty design of regulatory models, and the lack of ongoing performance monitoring incorporating early warning systems, is disrupting economic and social development. The new theory illustrates the necessity for a staged approach to liheratisation, which first assesses the capacity to conduct effective prudential supervision. before attempts are made to remove protective measures.

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http://hdl.handle.net/10453/5137