This essay compares the current effort to reform financial services regulation with the regulatory initiatives that come out of the Great Depression. Unlike the 1930s, policymakers today must account for the impact of regulatory competition in crafting responses to the financial crisis. The available evidence suggests that jurisdictional competition is no match for the forces of populist retribution in modern democratic states.
Corporation and Enterprise Law
Date of this Version
Adam C. Pritchard, "Populist Retribution and International Competition in Financial Services Regulation" (January 2010). University of Michigan Program in Law and Economics. Working Paper 5.