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DEVELOPING A GLOBALLY‐COMPETITIVE FINANCIAL SERVICES SECTOR: MANAGING THE TENSION BETWEEN INNOVATION AND REGULATION THROUGH SELF‐REGULATION
Author(s) -
PEARSON GAIL,
ELLIOT STEVE
Publication year - 2008
Publication title -
economic papers: a journal of applied economics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.245
H-Index - 19
eISSN - 1759-3441
pISSN - 0812-0439
DOI - 10.1111/j.1759-3441.2008.tb00441.x
Subject(s) - business , financial services , financial regulation , strengths and weaknesses , financial market , financial sector , industrial organization , finance , philosophy , epistemology
Financial regulation needs to facilitate continuing innovation by local financial institutions operating in a global market, while ensuring a healthy and robust local market. This paper examines the role that effective self‐regulation plays in achieving these objectives. It identifies some weaknesses in the current arrangements and provides suggestions for improvements.