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...
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1994/03/31
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Publication
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14334
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1
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1
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2010/07/01
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The role of the state in financial markets
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international study
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Citation
Stiglitz,Joseph Eugene.
The role of the state in financial markets (English). Washington, D.C. : The World Bank. http://documents.worldbank.org/curated/en/239281468741290885