Lacunae in Financial Regulatory Framework Vis-?-Vis Financial Repression

Gurbachan Singh (gbsingh@mail.jnu.ac.in)
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Gurbachan Singh: Centre for International Trade and Development, Jawaharlal Nehru University, New Delhi

Centre for International Trade and Development, Jawaharlal Nehru University, New Delhi Discussion Papers from Centre for International Trade and Development, Jawaharlal Nehru University, New Delhi, India

Abstract: This article makes four points. First, it suggests regulation of entry into the finance profession, whose tasks would include prescribing? a portfolio choice for (financially) uninformed investors. Second, it suggests that the government should encourage information collection to help ensure informational efficiency of markets. Third, it introduces a new academic concept - optimal noise in financial markets. Fourth, in the context of financial intermediaries, given that deposit insurance, lender of last resort, capital adequacy, and supervision of banks are in place, there is no need to impose the following beyond reasonable prudential norms: (a) cash reserve ratio requirement, (b) statutory liquidity ratio requirement, and (c) barriers to entry.

Pages: 24 pages
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Citations: View citations in EconPapers (2)

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