Should financial sector regulators be independent? - Quintyn, Marc (International Monetary Fund, 2004)
"This Economic Issue is based on IMF Working Paper WP/02/46, Regulatory and Supervisory Independence and Financial Stability"--preface. - Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002
Includes bibliographical references (pages 15-16)
In nearly every major financial crisis of the past decade-from East Asia to Russia, Turkey, and Latin America-political interference in financial sector regulation helped make a bad situation worse. Political pressures not only weakened financial regulation, but also hindered regulators and supervisors from taking action against troubled banks. This paper investigates why, to fulfill their mandate to preserve financial sector stability, financial sector regulators and supervisors need to be independent-from the financial services industry as well as from the government-as well as accountable
Keywords: Financiële instellingen; Regulering; Onafhankelijkheid (algemeen); POLITICAL SCIENCE / Public Affairs & Administration; Banking law; Banks and banking; Banks and banking, Central / State supervision; Bank; Banks and banking, Central -- State supervision