International Financial Reform: Regulatory And Other Issues



This chapter reviews how various mechanisms of prudential oversight over the financial system can help make an economy more resistant to contagious financial shocks.1 Other policy measures that play a useful role in some circumstances — such as capital controls, lender of last resort arrangements and the choice of exchange rate regime — are mentioned only tangentially as they are covered in the chapter by Chang and Majnoni.


Central Bank Banking System Credit Rating Hedge Fund International Financial 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. Basel Committee on Banking Supervision (1999a). “Banks’ Interactions with Highly Leveraged Institutions.” Paper no. 45.Google Scholar
  2. Basel Committee on Banking Supervision (1999b). “A New Capital Adequacy Framework.” Paper no. 50.Google Scholar
  3. Basel Committee on Banking Supervision (2000). “Banks’ Interactions with Highly Leveraged Institutions: Implementation of the Basel Committee’s Sound Practices Paper.” Paper no. 68.Google Scholar
  4. Benink, H. and C. Calomiris (1999). “Pushing for a Sub Debt Requirement.” The Banker. September: 17–18.Google Scholar
  5. Bonte, Rudi et al. (1999). “Supervisory Lessons to be Drawn from the Asian Crisis. ” Basel Committee on Banking Supervision Working Paper no. 2.Google Scholar
  6. Buiter, Wilhelm and A. C. Sibert (1999). “UDROP: A Contribution to the New Financial Architecture”. International Finance, 2 (2): 227–248.CrossRefGoogle Scholar
  7. Council on Foreign Relations Task Force (1999). Safeguarding Prosperity in a Global Financial System. Washington, D.C.: Institute for International Economics.Google Scholar
  8. Demirgüç-Kunt, Asli and Enrica Detragiache (1998). “The Determinants of Banking Crises in Developing and Developed Countries.” IMF Staff Papers 45 (1): 81–109.CrossRefGoogle Scholar
  9. Demirgüç-Kunt, Asli and Enrica Detragiache (2000). “Does Deposit Insurance Increase Banking System Stability?” IMF Working Paper no. 00 /3.Google Scholar
  10. Demirgüç-Kunt, Asli and Ross Levine (1999). “Bank-based and Market-based Financial Systems: Cross-country Comparisons.” World Bank Working Paper no. 2143.Google Scholar
  11. Eichengreen, Barry (1999). Toward a New International Financial Architecture. Washington, DC: Institute for International EconomicsGoogle Scholar
  12. Federal Reserve System Study Group on Subordinated Notes and Debentures (1999). Using Subordinated Debt as an Instrument of Market Discipline. Staff Study no. 172.Google Scholar
  13. Garber, Peter (2000). “Notes on Market-Based Bank Regulation.” In Lessons from Recent Financial Crises. In J. Bisignano, W. Hunter and G. Kaufman (eds.) Global Finanical Crises: Lessons from Recent Events. Boston, MA: Kluwer Academic Publishers, pgs. 255–60.Google Scholar
  14. Garcia, Gillian (1999) “Deposit Insurance: A Survey of Actual and Best Practices.” IMF Working Paper no. 99 /54.Google Scholar
  15. Grenville, Stephen (1999). “Financial Crises and Globalisation.” Reserve Bank of Australia Bulletin, August.Google Scholar
  16. Griffith-Jones, S. and J. Kimnis (1998). “How to Protect Developing Countries from Volatility of Capital Flows?” In J.C. Berthélemy & T. Koh (eds.) The Asian Crisis: A New Agenda for Euro-Asian Cooperation. Singapore: World Scientific Publishing.Google Scholar
  17. Group of Ten (1996). The Resolution of Sovereign Liquidity Crises (“Rey Report”). BISGoogle Scholar
  18. Hawkins, John and Philip Turner (1999). “Bank Restructuring in Practice: An Overview” in BIS Policy Paper no. 6.Google Scholar
  19. Hawkins, John (1999). “Economic and Financial Monitoring.” Australian Economic Indicators, Australian Bureau of Statistics.Google Scholar
  20. Heimann, John (1999). “Best Practice for Supervisors.” The Banker. October.Google Scholar
  21. Icard, André (2000). “Strengthening Financial Stability: Institutional Approach or Pragmatic Multitherapy.” In J. Bisignano, W. Hunter and G. Kaufman (eds.) Global Finanical Crises: Lessons from Recent Events. Boston, MA: Kluwer Academic Publishers, pgs. 397–408.CrossRefGoogle Scholar
  22. Levine, Ross (1997). “Financial Development and Economic Growth: Views and Agenda.” Journal of Economic Literature, 35 (2): 688–726.Google Scholar
  23. Levine, Ross and Sarah Zervos (1998). “Stock Markets, Banks and Economic Growth.” American Economic Review, 88 (3): 537–58.Google Scholar
  24. Litan, Robert (2000). “International Bank Capital Standards: Next Steps.” In J. Bisignano, W. Hunter and G. Kaufman (eds.) Global Finanical Crises: Lessons from Recent Events. Boston, MA: Kluwer Academic Publishers, pgs. 221–32.CrossRefGoogle Scholar
  25. Monfort, Brieuc and Christian Mulder (2000). “Using Credit Ratings for Capital Requirements on Lending to Emerging Market Economies — Possible Impact of a New Basel Accord.” IMF working paper no. 00 /69.Google Scholar
  26. Morris, S and H S Shin (1999). “Risk Management with Interdependent Choice.” Oxford Review of Economic Policy, 15 (3): 52–62.CrossRefGoogle Scholar
  27. Nouy, Danièle (1999). “Strengthening the Banking System: Issues and Experience.” In BIS Policy Paper No. 7.Google Scholar
  28. Powell, Andrew (1999). “On Liquidity Requirements, Capital Controls and Risk Management: Some Theoretical Considerations and Practice from the Argentine Banking Sector.” Paper prepared for World Bank Conference on Capital Flows, Financial Crises and Policies.Google Scholar
  29. Rogoff, Kenneth (1999). “International Institutions for Reducing Global Financial Instability.” NBER working paper no. 7265.Google Scholar
  30. Rossi, Marco (1999). “Financial Fragility and Economic Performance in Developing Economies: Do Capital Controls, Prudential Regulation and Supervision Matter?” IMF working paper no. 99 /66.Google Scholar
  31. Sachs, Jeffrey (1995). “Do We Need an International Lender of Last Resort?” Princeton University. Frank Graham Memorial Lecture. 20 April.Google Scholar
  32. Soros, George (1998). The Crisis of Global Capitalism. New York: Public Affairs Press.Google Scholar
  33. White, W. R. (1999). “New Strategies for Dealing with the Instability of Financial Markets.” Paper presented at the conference “The Management of Global Financial Markets: Challenges and Policy Options for Emerging Economies, the EU and the International Institutions” organised by Forum on Debt and Development, Budapest 24–25 June.Google Scholar
  34. Working Group on International Financial Crises (1998). Report to G22 (“Willard” Group). October. BIS.Google Scholar
  35. Working Group on Transparency and Accountability (1998). Report to G22 (“Willard” Group). October. BIS.Google Scholar

Copyright information

© Springer Science+Business Media New York 2001

Authors and Affiliations

  1. 1.Bank for International SettlementsUSA

Personalised recommendations