An Assessment of Financial Reform in OECD Countries:
This paper reviews the experience with financial reform in OECD countries. A general overview of the course of deregulation is provided and the economic rationale for financial regulation is discussed. The question of whether financial liberalisation has led to improved welfare is then addressed. It...
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| Main Author: | |
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| Other Authors: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
1995
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| Series: | OECD Economics Department Working Papers
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| Subjects: | |
| Online Access: | Volltext |
| Summary: | This paper reviews the experience with financial reform in OECD countries. A general overview of the course of deregulation is provided and the economic rationale for financial regulation is discussed. The question of whether financial liberalisation has led to improved welfare is then addressed. It is argued that the benefits of improved allocation of resources and increased efficiency have to be weighed against the possible effects of deregulation on financial stability. While there is no strong evidence of any trend increase in financial volatility in key markets, there have been a number of episodes of instability apparently linked to financial deregulation. However, the analysis of individual crises suggests that inappropriate macroeconomic policies, deficiencies in prudential policies, and microeconomic distortions affecting incentives in the financial sector, were important contributing factors to the financial problems that have been experienced ... |
| Physical Description: | 1 Online-Ressource (70 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/515737261523 |
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| spelling | Edey, Malcolm Verfasser aut An Assessment of Financial Reform in OECD Countries Malcolm Edey and Ketil Hviding Paris OECD Publishing 1995 1 Online-Ressource (70 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper reviews the experience with financial reform in OECD countries. A general overview of the course of deregulation is provided and the economic rationale for financial regulation is discussed. The question of whether financial liberalisation has led to improved welfare is then addressed. It is argued that the benefits of improved allocation of resources and increased efficiency have to be weighed against the possible effects of deregulation on financial stability. While there is no strong evidence of any trend increase in financial volatility in key markets, there have been a number of episodes of instability apparently linked to financial deregulation. However, the analysis of individual crises suggests that inappropriate macroeconomic policies, deficiencies in prudential policies, and microeconomic distortions affecting incentives in the financial sector, were important contributing factors to the financial problems that have been experienced ... Economics Hviding, Ketil ctb https://doi.org/10.1787/515737261523 Verlag kostenfrei Volltext |
| spellingShingle | Edey, Malcolm An Assessment of Financial Reform in OECD Countries Economics |
| title | An Assessment of Financial Reform in OECD Countries |
| title_auth | An Assessment of Financial Reform in OECD Countries |
| title_exact_search | An Assessment of Financial Reform in OECD Countries |
| title_exact_search_txtP | An Assessment of Financial Reform in OECD Countries |
| title_full | An Assessment of Financial Reform in OECD Countries Malcolm Edey and Ketil Hviding |
| title_fullStr | An Assessment of Financial Reform in OECD Countries Malcolm Edey and Ketil Hviding |
| title_full_unstemmed | An Assessment of Financial Reform in OECD Countries Malcolm Edey and Ketil Hviding |
| title_short | An Assessment of Financial Reform in OECD Countries |
| title_sort | an assessment of financial reform in oecd countries |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/515737261523 |
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