The Cost of Regulation
Tighter regulation inevitably carries a cost, but must be weighed against the benefits of greater financial stability. Estimating net benefits is, however, a complex exercise and while consensus is that in aggregate these remain positive, gains could be made by improving efficiency and addressing le...
Αποθηκεύτηκε σε:
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| Μορφή: | Article ou chapitre numérique |
| Γλώσσα: | Français |
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2018
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| Διαθέσιμο Online: | Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM |
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cairn-RINDU1_183_0039RINDU1Annales des Mines - Réalités industrielles https://stm.cairn.info/revue-realites-industrielles-2018-3-page-39?lang=en https://doi.org/10.3917/rindu1.183.0039 The Cost of Regulation Marcussen, Michala2018 fre Annales des Mines - Réalités industrielles | Août 2018 | 3 | 2018-07-23 | p. 39-42 | 1148-7941 RINDU1_18359 Tighter regulation inevitably carries a cost, but must be weighed against the benefits of greater financial stability. Estimating net benefits is, however, a complex exercise and while consensus is that in aggregate these remain positive, gains could be made by improving efficiency and addressing leakages. Moreover, structural reform, and not least completing the European Banking and Capital Markets Unions, would do much to alleviate downside risks and lift growth. History teaches that ensuring economic prosperity and financial stability over time requires more than a set of regulatory safety margins. The revival of macroprudential regulation aims to address past errors with a flexible and forward-looking approach. These tools are still largely untested and at risk of unintended costs. Overall optimisation of the net benefits from regulation requires an iterative and co-ordinated approach. The potentially most damaging costs stem from regulatory protectionism. Recent trends are worrying and could, if confirmed, also forewarn of a less co-ordinated G20 response to the next crisis.Cairn free access |
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Français |
| format |
Article ou chapitre numérique |
| building |
0/Bibliothèque numérique/ 1/Bibliothèque numérique/Cairn/ |
| description |
Tighter regulation inevitably carries a cost, but must be weighed against the benefits of greater financial stability. Estimating net benefits is, however, a complex exercise and while consensus is that in aggregate these remain positive, gains could be made by improving efficiency and addressing leakages. Moreover, structural reform, and not least completing the European Banking and Capital Markets Unions, would do much to alleviate downside risks and lift growth. History teaches that ensuring economic prosperity and financial stability over time requires more than a set of regulatory safety margins. The revival of macroprudential regulation aims to address past errors with a flexible and forward-looking approach. These tools are still largely untested and at risk of unintended costs. Overall optimisation of the net benefits from regulation requires an iterative and co-ordinated approach. The potentially most damaging costs stem from regulatory protectionism. Recent trends are worrying and could, if confirmed, also forewarn of a less co-ordinated G20 response to the next crisis. |
| author |
Marcussen, Michala |
| spellingShingle |
Marcussen, Michala The Cost of Regulation |
| author_facet |
Marcussen, Michala |
| author_sort |
Marcussen, Michala |
| title |
The Cost of Regulation |
| title_short |
The Cost of Regulation |
| title_full |
The Cost of Regulation |
| title_fullStr |
The Cost of Regulation |
| title_full_unstemmed |
The Cost of Regulation |
| title_sort |
cost of regulation |
| publishDate |
2018 |
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| container_issue |
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| url |
https://ezproxy.univ-orleans.fr/login?url=https://stm.cairn.info/revue-realites-industrielles-2018-3-page-39?lang=en https://ezproxy.univ-orleans.fr/login?url=https://doi.org/10.3917/rindu1.183.0039 |
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