"The Economic Rationale for Financial Regulation” Reconsidered

Publication: White Paper No. 05, 2012
Topic Area: Financial Intermediation
Authors: Richard Herring,
Reinhard H. Schmidt
Date: Apr 2012
Keywords: regulation, supervision, systemic risk

The authors revisit David Llewellyn's paper on the economic rationale for financial regulation, published as the first occasional paper of the FSA in 1999. They summarize Llewellyn's arguments and, from the perspective of experiencing the financial crisis in its fifth year, they offer specific suggestions for a new edition of the article.

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