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New Book on Bank Regulation

Congratulations to adjunct scholar Jim Barth for his new book, Rethinking Bank Regulation: Till Angels Govern (with Gerard Caprio Jr. and Ross Levine), just published by Cambridge University Press. From the dust jacked (quoting Frederic Mishkin): This volume "provides striking evidence (using a unique data set created at the World Bank) that strengthening the discretionary powers of prudential supervisors in countries with weak institutional environments leads to lower level of bank development, greater corruption in lending and banks that are less safe and sound. Following the Basel II recommendation of strengthening supervisory powers, therefore, may do more harm than good in developing countries, unless it is accompanied by substantial progress in institutional development."

Peter G. Klein is Carl Menger Research Fellow of the Mises Institute and W. W. Caruth Chair and Professor of Entrepreneurship at Baylor University's Hankamer School of Business.

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