The Economics and Politics of Banking Regulation in the Industrialized World, 1850-2000

工业化世界银行业监管的经济学和政治学，1850-2000 年

• 批准号: 0418352
• 负责人: Richard Grossman
• 金额: --
• 依托单位: Wesleyan University
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 2004
• 资助国家: 美国
• 起止时间: 2004-11-01 至 2007-10-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=0418352&HistoricalAwards=false
• 关键词: Economics; Politics; Banking; Regulation; Industrialized

Although social scientists and policy makers have devoted considerable effort to explaining the consequences of banking regulation, comparatively little research has been directed towards explaining the underlying reasons for the enactment of different regulatory measures. The objective of this research is to first assemble a dataset on banking regulations enacted across the industrialized world during the past century and a half. The regulations to be examined include entry regulation, capital requirements, reserve requirements, the enactment of double liability for bank shareholders, the ability of banks to engage in securities market transactions (universal banking), lender of last resort, branching, and the requirement to publish bank balance sheets. The second objective is to use that dataset to systematically assess the economic and political motivations, including stability, efficiency, monetary control, and redistribution, for such regulation. The substantial database for this project, which includes banking, macroeconomic, political, and legal information, will come from a variety of contemporary and historical sources. These include reports of national central banks and governments, the financial press, and various international agencies, such as the League of Nations, Bank for International Settlements, European Union, Organization forEconomic Cooperation and Development, published electronic databases, and a substantial secondary historical literature. This grant supports a pilot study of the time series of regulatory enactments in one country: Germany.The results of the research will increase our understanding of the political economy forces that lead to changes in bank regulation. Because the structure of banking has been shown to influence financial stability and economic growth, explaining the pattern and timing of banking regulation will help account for differences in financial structure and, therefore, will help explain differences in economic growth among countries. Finally, since regulation is an ongoing process, understanding the motivation behind earlier regulation may allow current day policy makers to anticipate the political and economic pressures demanding a regulatory response and may help them avoid some of the pitfalls of their predecessors.

尽管社会科学家和政策制定者花了相当大的精力来解释银行监管的后果，但相对较少的研究针对解释制定不同监管措施的根本原因。这项研究的目的是首先收集一个关于过去一个半世纪工业化国家颁布的银行监管的数据集。将被审查的法规包括进入监管、资本金要求、准备金要求、制定银行股东双重责任、银行从事证券市场交易的能力(全能银行)、最后贷款人、分行，以及公布银行资产负债表的要求。第二个目标是利用该数据集系统地评估此类监管的经济和政治动机，包括稳定性、效率、货币控制和再分配。这个项目的大量数据库，包括银行、宏观经济、政治和法律信息，将来自各种当代和历史来源。这些报告包括各国中央银行和政府、财经媒体和各种国际机构的报告，如国际联盟、国际清算银行、欧洲联盟、经济合作与发展组织、已出版的电子数据库和大量的二手历史文献。这笔赠款支持对一个国家的监管法规时间序列的试点研究：德国。研究结果将增加我们对导致银行监管变化的政治经济力量的理解。由于银行结构已被证明会影响金融稳定和经济增长，因此，解释银行监管的模式和时机将有助于解释金融结构的差异，从而有助于解释各国经济增长的差异。最后，由于监管是一个持续的过程，了解早期监管背后的动机，可能会让当今的政策制定者预见到要求监管回应的政治和经济压力，并可能帮助他们避免前辈的一些陷阱。