Focusing More on Outputs and on Markets: What Financial Regulation Can Learn from Progress in Other Policy Areas
Networks Financial Institute Policy Brief No. 2006-PB-18
23 Pages Posted: 29 Nov 2006
Date Written: November 2006
This paper draws on the progress that has occurred in other areas of regulation - specifically, the cap-and-trade program to control SO2 emissions; spectrum auctions; and dedicated-access-privilege programs for fisheries - to suggest that financial regulation would benefit from an expanded focus on outputs and on markets.
Keywords: Financial regulation, command-and-control, technology standards, performance standards, cap-and-trade, auctions, dedicated access privilege
JEL Classification: G18, G28, G38
Suggested Citation: Suggested Citation