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Financial Sector Regulation and Reforms in Emerging Markets: An Overview

34 Pages Posted: 18 Oct 2010  

Eswar S. Prasad

Cornell University - Dyson School of Applied Economics and Management; Cornell University - Department of Economics; Brookings Institution; NBER; IZA Institute of Labor Economics

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Abstract

This paper provides an overview of the complex conceptual and practical challenges that emerging market economies face as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest for financial stability with the imperatives of financial development and broader financial inclusion. I argue that these objectives can in fact reinforce one another. I also discuss aspects of macroeconomic policies and cross-border regulation that have implications for financial stability and the resilience of the financial sector in emerging markets.

Keywords: emerging markets, financial development, financial regulation, financial inclusion

JEL Classification: G1, G2, E58, F36

Suggested Citation

Prasad, Eswar S., Financial Sector Regulation and Reforms in Emerging Markets: An Overview. IZA Discussion Paper No. 5233. Available at SSRN: https://ssrn.com/abstract=1693330

Eswar S. Prasad (Contact Author)

Cornell University - Dyson School of Applied Economics and Management ( email )

440 Warren Hall
Ithaca, NY 14853
United States

HOME PAGE: http://prasad.aem.cornell.edu

Cornell University - Department of Economics ( email )

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Ithaca, NY 14853-7601
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Brookings Institution ( email )

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Washington, DC 20036
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NBER ( email )

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IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

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