Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/83320
Authors: 
Kudrna, Zdeněk
Medzihorsky, Juraj
Year of Publication: 
2012
Series/Report no.: 
IES Working Paper 6/2012
Abstract: 
This paper compares the bank regulatory regimes in the enlarged European Union in order to test the thesis claiming that international banking standards need to be adapted to emerging market circumstances. On the basis of World Bank surveys, we compile structural indices for the 10 post-communist EU members (emerging markets) as well as 17 advanced EU economies and compare them using Bayesian statistical procedures. Our findings show that there were systematic and significant differences, two-thirds of which can be explained by 8 of the 52 structural characteristics. The new member states regulatory regimes are more rule-based and leave less discretion for authorities, which is consistent with the thesis that the emerging market regulatory regimes - including those within the EU - needed to compensate for limited regulatory resources and higher political and economic volatility. Hence, the new generation of international banking standards should recognize these limitations.
Subjects: 
banking
emerging markets
European Union
international standards
regulation
JEL: 
G21
K23
P51
Document Type: 
Working Paper
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