Which works better: public choice or social choice?

Runtian Jing and Yao Li ()

The Service Industries Journal, 2008, vol. 31, issue 2, 153-168

Abstract: The sub-prime crisis has rejuvenated a public dialogue about the regulation of financial systems. This paper examines the impact of culture on the regulation of bank entry. Based on data from 53 countries, the paper's empirical estimations are inconsistent with the prediction of ‘public choice theory’, while supporting the ‘social choice view’ that cultural value has significant influence on regulatory policy and bank performance. The estimated structural model also suggests that social context can affect the formulation of cultural values across countries.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:taf:servic:v:31:y:2008:i:2:p:153-168

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DOI: 10.1080/02642060802644934

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The Service Industries Journal is currently edited by Eileen Bridges, Professor Domingo Ribeiro, Ronald Goldsmith, Barry Howcroft and Youjae Yi

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