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The State and the finance sector: the evolution of regulatory apparatus
Author(s) -
Merrett D. T.
Publication year - 2002
Publication title -
australian economic history review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.493
H-Index - 16
eISSN - 1467-8446
pISSN - 0004-8992
DOI - 10.1111/1467-8446.t01-1-00035
Subject(s) - pace , financial sector , equity (law) , economics , financial stability , state (computer science) , financial regulation , financial system , regulatory reform , macro , finance , business , market economy , political science , programming language , geodesy , algorithm , computer science , law , geography
This paper seeks to explain the motivation for the growth of regulation of the Australian financial sector and banking in particular. It will be argued that the pace and direction of the growth of the regulatory apparatus from the 1930s until the 1980s was set by concerns of governments about macro–economic issues rather than issues affecting the financial sector per se. The drivers of regulatory change over the last two decades of the century reflect new concerns about the efficiency and underlying stability of financial markets, and equity issues.