Financial Supervision as Economic Policy: Importance, Key Facts and Drivers

58 Pages Posted: 4 Sep 2013

See all articles by Donato Masciandaro

Donato Masciandaro

Bocconi University - Department of Economics

Marc Quintyn

International Monetary Fund (IMF)

Date Written: August 2013

Abstract

This article presents an overview of the evolution of financial supervision as emerging and relevant tool of the overall economic policy design. We concentrate our analysis on the last three decades, considering the situation in both the advanced and emerging countries and with a special eye on the questions raised by the recent Crisis. We begin with the timeline, discussing the milestones and their drivers. Then we deal with the architecture of supervision, the role of the central bank, the governance of supervision. Finally we address the new twists in the ongoing debate in the wake of the global financial Crisis, from which our proposal to make a clearer distinction between macro and micro prudential supervision follows.

Suggested Citation

Masciandaro, Donato and Quintyn, Marc, Financial Supervision as Economic Policy: Importance, Key Facts and Drivers (August 2013). Baffi Center Research Paper No. 2013-139, Available at SSRN: https://ssrn.com/abstract=2319852 or http://dx.doi.org/10.2139/ssrn.2319852

Donato Masciandaro (Contact Author)

Bocconi University - Department of Economics ( email )

Via Gobbi 5
Milan, 20136
Italy

Marc Quintyn

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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