The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
The Role of the State in Financial Markets
Open accessAbstract
This paper reexamines the role of the state in financial markets and identifies seven major market failures that provide a potential rationale for government intervention. In practice, government interventions in capital markets, even in industrial countries, have been pervasive. The paper provides a taxonomy of those interventions with respect to both the objectives they serve and the instruments they employ. There is a role for the government in financial markets, but the success of government interventions has been mixed. It is important that interventions be well designed. The paper sets out principles of government regulatory interventions and applies them to prudential regulation. It then examines three other areas of intervention—directed credit, financial repression, and competition policy—and identijies circumstances in which some amount of financial repression may actually be beneficial.
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Cites
The Market for "Lemons": Quality Uncertainty and the Market Mechanism
Akerlof, G. A. (1970) · The Quarterly Journal of Economics · doi:10.2307/1879431 · Cited by 23,016
Judgment under Uncertainty: Heuristics and Biases
Tversky, A., & Kahneman, D. (1975) · Utility, Probability, and Human Decision Making · doi:10.1007/978-94-010-1834-0_8 · Cited by 22,650
Cited by
How does foreign entry affect domestic banking markets?
Claessens, S., Demirgüç-Kunt, A., & Huizinga, H. (2001) · Journal of Banking & Finance · doi:10.1016/s0378-4266(00)00102-3 · Cited by 1,644
Information and the Change in the Paradigm in Economics
Stiglitz, J. E. (2002) · American Economic Review · doi:10.1257/00028280260136363 · Cited by 1,455
Self-citationStock Market Development and Long-Run Growth
Levine, R., & Zervos, S. (1996) · The World Bank Economic Review · doi:10.1093/wber/10.2.323 · Cited by 1,083
Kar, M., Nazlıoğlu, Ş., & Ağır, H. (2011) · Economic Modelling · doi:10.1016/j.econmod.2010.05.015 · Cited by 535
A SURVEY OF RECENT DEVELOPMENTS IN THE LITERATURE OF FINANCE AND GROWTH
Ang, J. B. (2008) · Journal of Economic Surveys · doi:10.1111/j.1467-6419.2007.00542.x · Cited by 499
Metadata
- Authors
- Stiglitz, J. E.
- Venue
- The World Bank Economic Review
- Publisher
- Oxford University Press (OUP)
- Published
- 1993
- Volume
- 7
- Issue
- suppl 1
- Pages
- 19-52
- ISSN
- 0258-6770 (ISSN-L)
- 1564-698X
- OpenAlex
- W1586139963
- Cited by
- 1,234
- References
- 2
- FWCI
- 30.71
- Type
- journal article
- Language
- en
- Open access
- bronze
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Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
