OECD Economics Department Working Papers

ISSN: 
1815-1973 (online)
http://dx.doi.org/10.1787/18151973
Hide / Show Abstract
Working papers from the Economics Department of the OECD that cover the full range of the Department’s work including the economic situation, policy analysis and projections; fiscal policy, public expenditure and taxation; and structural issues including ageing, growth and productivity, migration, environment, human capital, housing, trade and investment, labour markets, regulatory reform, competition, health, and other issues.

The views expressed in these papers are those of the author(s) and do not necessarily reflect those of the OECD or of the governments of its member countries.

 

Financial re-regulation since the global crisis?

An index-based assessment You or your institution have access to this content

English
Click to Access: 
    http://oecd.metastore.ingenta.com/content/0f865772-en.pdf
  • PDF
  • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/financial-re-regulation-since-the-global-crisis_0f865772-en
  • READ
Author(s):
Oliver Denk1, Gabriel Gomes1
Author Affiliations
  • 1: OECD, France

23 June 2017
Bibliographic information
No.:
1396
Pages:
51
http://dx.doi.org/10.1787/0f865772-en

Hide / Show Abstract

Domestic and international capital markets had been liberalised for decades until the mid-2000s. Then the global financial crisis struck. How has policy responded since the crisis: with re-regulation or continued liberalisation? This paper assembles a new dataset on financial policy from 2006 to 2015, by extending the International Monetary Fund’s index compiled by Abiad, Detragiache and Tressel (2010), the most widely used measure of financial reforms in cross-country empirical research. The data show that ownership and supervision are the two areas of financial policy which have changed most visibly. Bank recapitalisations have increased government ownership of banks, and reforms have strengthened prudential regulation and bank supervision. Finance continues to be substantially less liberalised in emerging market economies than in advanced countries. The new dataset is available for use by other empirical researchers.
Keywords:
financial regulation, Financial liberalisation, bank supervision
JEL Classification:
  • G18: Financial Economics / General Financial Markets / Government Policy and Regulation
  • G28: Financial Economics / Financial Institutions and Services / Government Policy and Regulation
  • N20: Economic History / Financial Markets and Institutions / General, International, or Comparative
 
Visit the OECD web site