Framing Financial Structure in an Information Environment

by Courchene, Thomas J.; Neave, Edwin H.

• ISBN13: 9780889119505
• ISBN10: 0889119503
• Format: Paperback
• Copyright: 2003-06-01
• Publisher: Inst for Research on

Summary

The continuing rapid evolution of the financial system challenges management and regulators alike. Management strives to find efficient and effective organizational structures that offer enough flexibility to facilitate response to environmental change. Regulators strive to find effective responses to the challenges presented by the rapidly changing dynamics of financial system operations. In Framing Financial Structure in an Information Environment the authors address important aspects of both issues: the continuing evolution of the world's financial institutions and the regulatory challenges presented by the changes. Contributors include Douglas Gale (New York University) on regulation in the information era; David Smith (Federal Reserve Board) on the globalization of commercial banking; John Chant (Simon Fraser) on the internationalization of Canadian banking; Charles Goodhart (London School of Economics) on the economics of regulation; Ken Carow (Indiana University) on the banking-insurance nexus; Edwin Neave and Lewis Johnson (Queen's University) on financial governance; and Charles Freedman (Bank of Canada), Tim O'Neill (Bank of Montreal) and Stephen Poloz (Export Development Canada) on the future of the Canadian financial sector.

Table of Contents

Acknowledgement	v
Introduction	1	(14)
Overview Perspectives
Financial Regulation in a Changing Environment	15	(22)
Douglas Gale
Bankers and Risk	37	(10)
Charles Goodhart
Theoretical Underpinnings
Financial Governance and Financial Regulation	47	(19)
Lewis D. Johnson
Edwin H. Neave
Financial Governance and Financial Regulation: Comments	66	(7)
Robert Jones
Effects of Financial Restructuring
To What Extent Will the Banking Industry be Globalized? A Study of Bank Nationality and Reach in 20 European Nations	73	(44)
Allen N. Berger
Qinglei Dai
Steven Ongena
David C. Smith
Banking and Globalization: Comments	117	(6)
Ron Giammarino
Competition: National or International?
Revisiting Main and Bay Streets	123	(28)
John F. Chant
Revisiting Main and Bay Streets: Comments	151	(6)
Frank Mathewson
Bancassurance: Merging Banks and Insurance
Citicorp-Travelers Group Merger: Challenging Barriers Between Banking and Insurance	157	(23)
Kenneth A. Carow
Citicorp-Travelers Group Merger: Comments	180	(9)
Paul Halpern
Looking Forward
System Stability	189	(10)
Charles Freedman
Looking Forward: Three Challenges	199	(4)
Tim O'Neill
On the Future of International Financial Intermediation	203
Stephen S. Poloz
Contributors
List of Publications