Is One Watchdog Better than Three? International Experience with Integrated Financial-Sector Supervision (in English)

Martin Èihák () and Richard Podpiera
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Martin Èihák: International Monetary Fund, Washington, D.C.
Authors registered in the RePEc Author Service: Martin Cihak ()

Czech Journal of Economics and Finance (Finance a uver), 2006, vol. 56, issue 3-4, 102-126

Abstract: Over the past two decades, there has been a clear trend toward integrating the regulation and supervision of banks, nonbank financial institutions, and securities markets. This paper reviews the international experience with integrated supervision. The authors survey the theoretical arguments for and against the integrated supervisory model, and use data on compliance with international standards to assess the validity of some of these arguments. The find that (i) integration is associated with a higher quality of supervision in insurance and securities and a higher consistency of supervision across sectors, after controlling for level of development; and (ii) integrated supervision is not associated with a significant reduction in supervisory staff.

Keywords: financial sector; financial-services regulation; integrated supervision; prudential supervision; supervisory agencies (search for similar items in EconPapers)
JEL-codes: G18 G28 K20 L50 (search for similar items in EconPapers)
Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (27)

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Persistent link: https://EconPapers.repec.org/RePEc:fau:fauart:v:56:y:2006:i:3-4:p:102-126

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