August 4, 2004

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Contents

Glossary

Executive Summary

1. Introduction and Background



2. Implementation of Regulatory Standards
   1. Framework for Analysis
   2. Implementation Overview
   3. Cross-Sectoral Regulatory Weaknesses
   4. Factors Explaining Implementation Weaknesses
   
   
3. Strengthening Regulatory Standards
   1. Diversity of Financial Systems
   2. Cross-Sectoral and Cross-Border Issues
   3. Objectives and Design of Regulatory Standards


4. Issues Going Forward



5. Issues For Discussion

References

Table

Regulatory Standards: Areas Posing Problems in Cross-Sector Implementation

Figures

1. Regulatory Standards: Average Implementation by Main Components
2. Regulatory Standards: Average Implementation by Country Type
3. Rule of Law and Implementation of Standards

Boxes

1. Regulatory Standards
2. Financial Regulation and its Four Main Components
3. Preconditions and Linkages with Regulation
4. Regulatory Implications of Dollarization and Government Ownership
5. Regulatory Implications of Conglomeration and Internationalization
6. Cross-border Regulatory Cooperation

Appendices

1. Income Level, Financial Deepening, and Standard Implementation
2. Regulatory Standards: Main Gaps and Suggested Response

Appendix Tables

1. Correlations: Income Level, Financial Deepening, and Sector's Implementation
2. Implementation by Regulatory Categories.