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Taylor, Michael.

Should Financial Sector Regulators Be Independent? Michael Taylor. [electronic resource] / Michael Taylor. - Washington, D.C. : International Monetary Fund, 2004. - 1 online resource (27 p.) - Economic Issues; Economic Issues ; No. 32 . - Economic Issues; Economic Issues ; No. 32 .

In nearly every major financial crisis of the past decade-from East Asia to Russia, Turkey, and Latin America-political interference in financial sector regulation helped make a bad situation worse. Political pressures not only weakened financial regulation, but also hindered regulators and supervisors from taking action against troubled banks. This paper investigates why, to fulfill their mandate to preserve financial sector stability, financial sector regulators and supervisors need to be independent-from the financial services industry as well as from the government-as well as accountable.

ISBN: 1589063147 : 0.00 USD

ISSN: 1020-8402

Standard No.: 10.5089/9781589063143.051 doi

Subjects--Topical Terms:
Central Bank
Financial Institutions
Financial Sector
Financial Stability
Inflation
Monetary Policy