Jordan, CallyMajnoni, Giovanni2014-08-012014-08-012002-10https://hdl.handle.net/10986/19224In the globalizing economy, national policymakers are often forced to accept the challenge of financial integration. Faced with the potentially destabilizing effects of international financial markets, they have to strengthen financial regulation, importing international best practices and aligning domestic with foreign regulation, to avoid destabilizing phenomena of regulatory arbitrage. The authors explore the main features of the ongoing process of worldwide financial regulatory convergence and the role played by the global dissemination of financial standards and codes. They analyze the reasons behind the generalized acceptance of international best practices and the limits of the standards and codes approach to financial regulatory harmonization.en-USCC BY 3.0 IGOACCOUNTING STANDARDSACTIONSACTSASSET MANAGEMENTASSET MANAGEMENT COMPANIESAUTHORITYBANK LIABILITIESCAPITAL FLOWSCAPITAL MARKETSCAPITAL MOBILITYCAPITAL MOVEMENTSCAPITAL REQUIREMENTSCOALCODESCOMMERCIAL BANKSCOMMON LAWCONDITIONALITYCONFIDENTIALITYCONSENSUSCONSTITUENCIESCONSTITUENCYCONSTITUTIONCONSUMER PROTECTIONCONVERGENCECORPORATE GOVERNANCEDEBTDECISION MAKINGDECISION MAKING PROCESSDEVELOPED COUNTRIESDISCLOSUREDOMESTIC FIRMSDOMESTIC MARKETSECONOMIC COOPERATIONECONOMIC DEVELOPMENTECONOMIC INTEGRATIONECONOMIC STABILITYEUROPEAN UNIONEXTERNALITIESFINANCIAL CRISESFINANCIAL INSTITUTIONSFINANCIAL INTEGRATIONFINANCIAL INTERMEDIATIONFINANCIAL MARKETSFINANCIAL REGULATIONFINANCIAL SECTORFINANCIAL SERVICESFINANCIAL STABILITYFINANCIAL SYSTEMFINANCIAL SYSTEMSFISCALFIXED COSTSFOREIGN ENTITIESGOVERNMENT INSTITUTIONSHARMONIZATIONINCOMEINCOME COUNTRIESINDIVIDUAL BEHAVIORINSTITUTIONAL WEAKNESSESINSURANCEINTERNATIONAL CAPITALINTERNATIONAL FINANCIAL MARKETSINTERNATIONAL STANDARDSINTERNATIONAL TRADEINVESTMENT SERVICESLAWSLEGAL FRAMEWORKLEGAL PROVISIONSLEGAL REFORMSLEGAL RULESLEGAL SYSTEMLEGAL SYSTEMSLEGAL TRANSPLANTSLEGISLATIONLEGITIMACYMARKET DISCIPLINEMARKET FORCESMARKET INTEGRATIONMEMBER COUNTRIESMERCHANT BANKINGMONETARY POLICYMONETARY UNIONMONETARY UNIONSMULTILATERAL LEVELMUTUAL FUNDSMUTUAL RECOGNITIONNATIONAL GOVERNMENTSNATIONAL LAWSNATIONAL LEVELNATIONAL PRACTICESNATIONAL SOVEREIGNTYPAYMENT SYSTEMSPRIVATE SECTORPROFESSIONAL BODIESPUBLIC GOODSREGIONAL DEVELOPMENTREGIONAL DEVELOPMENT BANKSREGULATORY FRAMEWORKREGULATORY FRAMEWORKSREGULATORY INSTRUMENTSREGULATORY INTERVENTIONREGULATORY REFORMSREGULATORY REQUIREMENTSREGULATORY SYSTEMREGULATORY SYSTEMSROMAN LAWSECURITIESSOVEREIGNTYSTRUCTURAL REFORMSSUPERVISORY AGENCIESSUPERVISORY AUTHORITIESTAX COMPETITIONTAXATIONTRADE INTEGRATIONTRADE LIBERALIZATIONTRANSITION ECONOMIES10.1596/1813-9450-2919