 CONTROL OF THE AUSTRALIAN LIFE INSURANCE INDUSTRY: AN EXAMPLE OF REGULATORY EXTERNALITIES WITHIN THE AUSTRALIAN FINANCIAL SECTOR 1870–1945Australian Economic History Review, 2005, vol. 45, issue 1, 1-22 Abstract: The regulatory environment in which the Australian life insurance industry operates has its antecedents in two major periods of legislative intervention. The first established the principle of ‘freedom with disclosure’ in the 1870s, which has since formed the basis of the regulatory approach. In the 1940s, the second refined the concept in the context of a general recognition of an interventionist approach to financial markets. It is suggested that regulation of the life insurance market in Australia came about not in response to problems associated with market failure but in reaction to external influences not directly related to conditions in the Australian life insurance industry. This was impacted not only on the timing of intervention but on the approach taken as well. Date: 2005 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bla:ozechr:v:45:y:2005:i:1:p:1-22 Ordering information: This journal article can be ordered from Access Statistics for this article Australian Economic History Review is currently edited by Stephen L Morgan and Martin Shanahan More articles in Australian Economic History Review from Economic History Society of Australia and New Zealand Contact information at EDIRC. |
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