Quality of Financial Sector Regulation and Supervision Around the World
IMF Working Papers, August 1, 2008
Source details
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- Quality of Financial Sector Regulation and Supervision Around the World
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Bibliographic details
- Authors: Martin Cihak, Alexander F. Tieman
- Published: August 1, 2008
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451870480.001
Overview
- The paper analyzes the quality of financial sector regulation and supervision around the globe.
- Unlike studies that collect and analyze data on regulation and supervision "on the books," this study also analyzes available information on supervisory implementation, using data from IMF-World Bank assessments of compliance with international standards and codes.
- Incorporating supervisory implementation into the study provides an improved means of assessing countries' regulatory systems.
Methodology
- Data sources: IMF-World Bank assessments of compliance with international standards and codes.
- Analytical focus: Combines regulatory “on the books” measures with information on supervisory implementation to assess regulatory frameworks.
Key findings
- Countries' regulatory frameworks score on average one notch below full compliance with the standards (on a 4-notch scale).
- There are substantial differences in the quality of regulatory and supervisory frameworks across countries.
- Income level is identified as a major factor explaining cross-country differences in regulatory and supervisory quality.
Subjects and keywords (as listed)
- Subjects: Banking, Basel Core Principles, Financial Sector Assessment Program, Personal income, Securities regulation
- Keywords: EU country, financial system, IOSCO standard, KKM governance variable, regulatory governance, WP
Source: Quality of Financial Sector Regulation and Supervision Around the World, Working Paper No. 2008/190