Publication
2009
This paper argues that the present discussions about the future of bank regulation, coming after a long period of bank deregulation, have a natural tendency to exaggerate the effectiveness of regulation. The author finds that those discussions are poorly rooted in the macroeconomic foundations of bank intermediation, including its function of risk-bearing. The debate on financial regulation, abstracted from actual intermediation, would be more effective as part of a more general discussion of financial reconstruction.
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English (PDF, 13 pages, 430 KB) |
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Author | Jan Toporowski |
Series | DIIS Working Papers |
Issue | 8 |
Publisher | Danish Institute for International Studies (DIIS) |
Copyright | © 2009 Danish Institute for International Studies (DIIS) |