"The Economic Rationale for Financial Regulation” Reconsidered

White Paper No. 05, 2012

Authors:
Richard Herring,
Reinhard H. Schmidt
Research Area:
Financial Intermediation
Date:
Apr 2012
Keywords:
regulation, supervision, systemic risk
Abstract:

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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