Quality of Financial Sector Regulation and Supervision Around the World

47 Pages Posted: 12 Sep 2008

See all articles by Alexander F. Tieman

Alexander F. Tieman

International Monetary Fund (IMF)

Martin Čihák

International Monetary Fund (IMF)

Date Written: August 2008

Abstract

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.

Keywords: Financial sector, Bank regulations, Bank supervision, Standards and codes, Financial stability, Financial system stability assessment, Basel Core Principles, Financial Sector Assessment Program

Suggested Citation

Tieman, Alexander F. and Cihak, Martin, Quality of Financial Sector Regulation and Supervision Around the World (August 2008). IMF Working Papers, Vol. , pp. 1-45, 2008. Available at SSRN: https://ssrn.com/abstract=1266523

Alexander F. Tieman (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Martin Cihak

International Monetary Fund (IMF) ( email )

700 19th Street N.W.
Washington, DC 20431
United States

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