Cover IMF Working Papers
Quality of Financial Sector Regulation and Supervision Around the World
Author: Mr. Martin Cihakhttps://orcid.org/0000-0002-3571-9707 and Alexander F. Tieman
Series:
IMF Working Papers
Volume/Issue:
Volume 2008: Issue 190
Language:
English
Publication Date:
01 Aug 2008
DOI:
https://doi.org/10.5089/9781451870480.001
ISBN:
9781451870480
ISSN:
1018-5941
Pages:
45
Keywords:
WP; KKM governance variable; financial system; regulatory governance; EU country; IOSCO standard
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund