Open AccessThe dance of duplicity in emerging markets: Using bank regulation and deposit insurance protection to enrich the elite
Author(s) -
Kurt Dew
Publication year - 2011
Publication title -
risk governance and control: financial markets and institutions
Language(s) - English
Resource type - Journals
eISSN - 2077-4303
pISSN - 2077-429X
DOI - 10.22495/rgcv1i1art3
Subject(s) - elite , business , culpability , subordination (linguistics) , agency (philosophy) , dance , government (linguistics) , deposit insurance , capitalism , market economy , financial system , economics , law , political science , politics , art , philosophy , linguistics , literature , epistemology
We seek to identify the culpability of banks in resource misallocation in Mexico, Thailand and Turkey. Specifically we provide evidence of an agency problem in the government and banking systems of the three countries. Where governments pass laws and regulations consistent with modern capitalism for the purpose of deceiving investors and others, the door is opened to the use of deposit insurance and repeated promises of regulatory reform to transfer wealth from the efficient to the corrupt.