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Crisis Prevention and Crisis Management: The Role of Regulatory Governance
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Author/Editor: |
Das, Udaibir S. | Quintyn, Marc |
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September 1, 2002 |
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Electronic Access: |
Free Full Text (PDF file size is 2,581KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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Summary: Good regulatory governance in the financial system is a critical component of financial stability. Research on the topic has not been very systematic and deep. This paper first defines four key components of regulatory governance-independence, accountability, transparency, and integrity. It explores the quality of regulatory governance based on the financial system evaluations under the Financial Sector Assessment Programs (FSAPs), which are the first and most comprehensive effort to analyze regulatory governance issues. In terms of independence, banking supervisors are ahead of the others, while securities regulators perform better on transparency. Insurance regulators are weak in all the regulatory governance components. On the whole, regulators still have a long way to go in terms of practicing good governance. The paper also discusses governance issues specific to crisis management and concludes with an agenda for further research.
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Series: |
Working Paper No. 02/163 |
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Subject(s): |
Governance | Financial sector | Bank supervision | Transparency | Financial crisis | Crisis prevention |
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Author's keyword(s): |
Regulatory governance | financial sector supervision | agency independence | accountability | transparency | integrity |
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Published: |
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September 1, 2002 |
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ISBN/ISSN: |
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1934-7073 |
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Format: |
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Paper |
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Stock No: |
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WPIEA1632002 |
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Pages: |
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68 |
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Price: |
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US$15.00
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Price Delivery Note: |
Prepayment required for individual copies. An annual subscription is $375.00 a year. It includes 12 monthly shipments and priority mail delivery. The Stock No. for the subscription is WPEA. |
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Please address any questions about this title to publications@imf.org.
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