Quality of Financial Sector Regulation and Supervision Around the World

August 1, 2008

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Format: Chicago

Martin Cihak, and Alexander F. Tieman Quality of Financial Sector Regulation and Supervision Around the World, (USA: International Monetary Fund, 2008) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The paper analyzes the quality of financial sector regulation and supervision around the globe. Unlike studies that collect and analyze data on regulation and supervision "on the books," this study also analyzes available information on supervisory implementation, making use of data from IMF-World Bank assessments of compliance with international standards and codes. Incorporating supervisory implementation into the study provides an improved means of assessing countries' regulatory systems. We find that countries' regulatory frameworks score on average one notch below full compliance with the standards (on a 4-notch scale). There are substantial differences in the quality of regulatory and supervisory frameworks across countries, with the income level being a major factor.

Subject: Banking, Basel Core Principles, Financial Sector Assessment Program, Personal income, Securities regulation

Keywords: EU country, Financial system, IOSCO standard, KKM governance variable, Regulatory governance, WP

Publication Details

Pages:

45
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2008/190
Stock No:

WPIEA2008190
ISBN:

9781451870480
ISSN:

1018-5941

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