this book is the result of a World Bank conference on regulatory structure organized to give policymakers an opportunity to reflect on the worldwide trend toward structural change and, in particular, the amalgamation of regulatory agencies. Within this trend, a number of competing models of...

Applying a stochastic production frontier to sector-level data within manufacturing, this paper examines total factor productivity (TFP) growth for eight East Asian economies during 1963-1998, using both single country and cross-country regression. The analysis focuses on the trend of...

Recent bank crises in developed and developing countries have underlined the question of a good “regulatory regime,†which is a wider concept than the set of prudential principles and business rules established by external regulatory agencies. The role of external regulation in...

In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a substantial mortgage lender. In fact, ten years...