Comments on “How Offshore Financial Competition Disciplines Exit Resistance by Incentive-Conflicted Bank Regulators”
Kane has presented a complex and provocative model of the dynamics of financial innovations and crises that treats regulation endogenously. I would like to begin by reviewing some of the key elements of his story and then take a closer look at his critique of international efforts to harmonize regulation.
KeywordsFinancial Service Financial Innovation Uniform Regulation Regulatory Arbitrage Disclosure Practice
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