Financial Regulation in the Global Economy

The George Washington Journal of International Law and Economics, January 1, 1995 | Go to article overview

Financial Regulation in the Global Economy


Financial Regulation in the Global Economy, by Richard J. Herring and Robert E. Litan. Washington, D.C.: The Brookings Institution, 1995. Pp. 187. $28.95 (hardcover).

As the global marketplace expands, so does the demand for trans-border financial services. In Financial Regulation in the Global Economy, a recent addition to the Brookings Institution's Integrating National Economies series, authors Richard J. Herring and Robert E. Litan examine financial regulatory schemes in both the international and domestic fora. They examine the tension between the political autonomy of nations and the reality of economic integration among nations. At the conclusion, the authors advocate a theory of regulation by the market, rather than by regulators.

The study is divided into six chapters. The first gives an overview of the "internationalization of finance" and the interdependence of national markets. The authors begin with the premise that most restrictions against cross-border financial transactions are imprudent in today's economic environment. The authors point to a need among nations to harmonize and coordinate the supervision and regulation of financial activities, especially as individuals and institutions today may engage in "regulatory arbitrage"; namely, the moving from a jurisdiction with strict regulations to one which is more permissive.

Chapter two discusses the ongoing process of international financial integration. The chapter outlines the effects of technological advances on users of financial services, on financial service institutions, and on regulators. In the past twenty-five years, the major industrialized countries have liberalized domestic financial regulations, partially in response to the spread of technology. The chapter concludes with the assertion that higher levels of international financial regulation are possible, but are dependent on the reduction of the uncertainty of exchange rates. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Financial Regulation in the Global Economy
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.