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Dimitri Vittas - Financial regulation: changing the rules of the game

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The study discusses ways of evaluating financial regulations and their effect on macroeconomic, allocative, protective, and other financial systems. It is a handy guidebook to regulatory changes faced by banking and nonbanking markets alike.

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title Financial Regulation Changing the Rules of the Game EDI - photo 1

title:Financial Regulation : Changing the Rules of the Game EDI Development Studies
author:Vittas, Dimitri.
publisher:World Bank
isbn10 | asin:0821321234
print isbn13:9780821321232
ebook isbn13:9780585245270
language:English
subjectFinancial institutions--Law and legislation, Finance--Law and legislation, Banking law.
publication date:1992
lcc:K1066.Z9F56 1992eb
ddc:346/.0821
subject:Financial institutions--Law and legislation, Finance--Law and legislation, Banking law.
Page i
EDI Development Studies
Financial Regulation
Changing the Rules of the Game
Edited by
Dimitri Vittas
The World Bank
Washington, D. C.
Page ii
Copyright 1992
The International Bank for Reconstruction
and Development / THE WORLD BANK
1818 H Street, N.W.
Washington, D.C. 20433, U.S.A.
All rights reserved
Manufactured in the United States of America
First printing December 1992
The Economic Development Institute (EDI) was established by the World Bank in 1955 to train officials concerned with development planning, policymaking, investment analysis, and project implementation in member developing countries. At present the substance of the EDI's work emphasizes macroeconomic and sectoral economic policy analysis. Through a variety of courses, seminars, and workshops, most of which are given overseas in cooperation with local institutions, the EDI seeks to sharpen analytical skills used in policy analysis and to broaden understanding of the experience of individual countries with economic development. Although the EDI's publications are designed to support its training activities, many are of interest to a much broader audience. EDI materials, including any findings, interpretations, and conclusions, are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent.
Because of the informality of this series and to make the publication available with the least possible delay, the manuscript has not been edited as fully as would be the case with a more formal document, and the World Bank accepts no responsibility for errors.
The material in this publication is copyrighted. Requests for permission to reproduce portions of it should be sent to the Office of the Publisher at the address shown in the copyright notice above. The World Bank encourages dissemination of its work and will normally give permission promptly and, when the reproduction is for noncommercial purposes, without asking a fee. Permission to copy portions for classroom use is granted through the Copyright Clearance Center, 27 Congress Street, Salem, Massachusetts 01970, U.S.A.
The backlist of publications by the World Bank is shown in the annual Index of Publications, which is available from Distribution Unit, Office of the Publisher, The World Bank, 1818 H Street, N.W., Washington, D.C. 20433, U.S.A., or from Publications, Banque mondiale, 66, avenue d'Ina, 75116 Paris, France.
Dimitri Vittas is principal financial specialist with the Financial Policy and Systems
Division of the World Bank's Country Economics Department.
Library of Congress Cataloging-in-Publication Data
Financial regulation : changing the rules of the game/edited by
Dimitri Vittas.
p. cm.(EDI development studies)
Collection of papers mostly based on papers presented at a seminar held at Cam
bridge, Mass., June 10-15, 1990.
Includes bibliographical references.
ISBN 0-8213-2123-4
1. Financial institutionsLaw and legislation. 2. FinanceLaw and legislation.
3. Banking law. I. Vittas, Dimitri. II. Series.
K1066. Z9F56 1992
346'.0821dc20 92-14470
[342.6821] CIP
EDI Catalog No. 340/059
Page iii
CONTENTS
Foreword
v
Acknowledgments
vii
About the Contributors
ix
Part I: Introduction
Chapter 1. Introduction and Overview
Picture 2
Dimitri Vittas
1
Part II. General Issues in Regulatory Reform
Chapter 2. Changing the Rules of the Game
Picture 3
Millard Long and Dimitri Vittas
43
Picture 4
Chapter 3. The Impact of Regulation on Financial Intermediation
Picture 5
Dimitri Vittas
59
Part III: Issues in Financial Liberalization
Chapter 4. Financial Liberalization: The Case of Japan
Picture 6
Akiyoshi Horiuchi
85
Picture 7
Chapter 5. Indonesian Financial Development: A Different Sequencing?
Picture 8
David C. Cole and Betty F. Slade
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