Publication:
Cross-Border Spillover Effects of the G20 Financial Regulatory Reforms: Results from a Pilot Survey

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dc.contributor.authorBriault, Clive
dc.contributor.authorFeyen, Erik
dc.contributor.authorGonzalez Del Mazo, Ines
dc.contributor.authorKwok Chung Yee, Brian
dc.contributor.authorRademacher, Jan
dc.contributor.authorSkamnelos, Ilias
dc.date.accessioned2018-01-16T18:05:24Z
dc.date.available2018-01-16T18:05:24Z
dc.date.issued2018-01
dc.description.abstractIn 2009, the G20 embarked on an ambitious financial regulatory reform agenda to address the fault lines that caused the global financial crisis. Although the global benefits are expected to outweigh the overall costs, these reforms could produce cross-border adverse spillover effects to individual emerging markets and developing economies that are not required to implement the reforms themselves, but are affected by their implementation elsewhere. To improve the evidence base on such potential adverse impacts, the World Bank has undertaken qualitative surveys of senior officials at regulatory agencies, local banks, and global banks that are active in seven emerging markets and developing economies. While important caveats prevent the formulation of definitive conclusions, the survey finds that banks and regulators routinely have different perspectives on the impacts. Most banks claim adverse effects on financial products, services, and markets; regulators broadly expect the effects to be positive over the longer term, but some recognize they may be negative during the transition phase. Regulators tend to agree that the (potential for) spillover impacts demand stronger home-host coordination, impose a higher supervisory burden, and require a stronger role for the international community to monitor and evaluate the impacts. The findings also emphasize the need for regulatory consistency within and between jurisdictions to ensure a level playing field. Taken together, more work remains to better understand the nature of these spillover effects, how they shape the provision of commercial financing to meet developmental objectives, and what action can be taken to mitigate any adverse impacts.en
dc.identifierhttp://documents.worldbank.org/curated/en/146421515705815737/Cross-border-spillover-effects-of-the-g20-financial-regulatory-reforms-results-from-a-pilot-survey
dc.identifier.doi10.1596/1813-9450-8300
dc.identifier.urihttps://hdl.handle.net/10986/29163
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 8300
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectFINANCIAL REFORM
dc.subjectFINANCIAL REGULATION
dc.subjectFINANCIAL SUPERVISION
dc.subjectBASEL III
dc.titleCross-Border Spillover Effects of the G20 Financial Regulatory Reformsen
dc.title.subtitleResults from a Pilot Surveyen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleCross-Border Spillover Effects of the G20 Financial Regulatory Reforms: Results from a Pilot Survey
okr.date.disclosure2018-01-11
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/146421515705815737/Cross-border-spillover-effects-of-the-g20-financial-regulatory-reforms-results-from-a-pilot-survey
okr.guid146421515705815737
okr.identifier.doi10.1596/1813-9450-8300
okr.identifier.externaldocumentum090224b08553475a_1_0
okr.identifier.internaldocumentum29502623
okr.identifier.reportWPS8300
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/146421515705815737/pdf/WPS8300.pdfen
okr.statistics.combined3068
okr.statistics.dr146421515705815737
okr.statistics.drstats2500
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.topicFinance and Financial Sector Development::Financial Regulation & Supervision
okr.topicFinance and Financial Sector Development::International Financial Markets
okr.topicInternational Economics and Trade::Globalization and Financial Integration
okr.unitFinance, Competitiveness and Innovation Global Practice Group
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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