Prudential regulation, its international background and the performance of the banks a critical review of the South African environment since 1970

References

• Blanchard , OJ. 2009 . “The crisis: Basic mechanisms, and appropriate policies” , IMF Working paper, WP/09/80
   Google Scholar
• Dowrick , S. and DeLong , J.B. 2005 . “Globalisation and convergence” . In Globalization in historical perspective Edited by: Williamson , J. Chicago
   Google Scholar
• Tanzi , V. 1997 . “The changing role of the state in the economy” , IMF Working Paper, WP/97/114
   Google Scholar
• Boughton , J.M. 2001 . Silent revolution: The International Monetary Fund 1979–1989 Washington
   Google Scholar
• Williamson , J. 1990 . “What Washington means by policy reform” . In Latin American adjustment: How much has happened? Edited by: Williamson , J. Washington
   Google Scholar
• Reinhart , C. and Rogoff , K. 2004 . “The modern history of exchange rate arrangements: A reinterpretation” . Quarterly Journal of Economics , 119 February : 1 – 48 .
   Web of Science ®Google Scholar
• Grabbe , J.O. 1996 . International financial markets 26 – 27 . Upper Saddle River
   Google Scholar
• White , W.R. 2008 . “Past financial crises, the current financial turmoil, and the need for a new macrofinancial stability framework” . Journal of Financial Stability, , 4 : 307 – 12 .
   Google Scholar
• Vitols , S. 1995 . “Inflation versus central bank independence? Banking regulation and financial stability in the US and Germany” . 20 Wissenschaftszentrum Berlin für Sozialforschung . Working Paper,
   Google Scholar
• Allen , A. and Santomero , F.M. 1996 . “The theory of financial intermediation” , Wharton Financial Institution Center Working Paper Series
   Google Scholar
• Bernanke , B. 11 April . “Financial regulation and the Invisible Hand” . 11 April , Speech delivered at the New York University Law School,
   Google Scholar
• Degryse , H. and Ongena , S. 2007 . “The impact of competition on bank orientation” . Journal of Financial Intermediation, , 16 : 399 – 424 .
   Web of Science ®Google Scholar
• Klapper , L. and Zaida , R. 2005 . “A survey of government regulation and intervention in financial markets” . 41 Washington Submission prepared for the World Development Report 2005,
   Google Scholar
• Jordaan , M. 1997 . “The regulation of deposit‐taking financial institutions: A comparative analysis of the United Kingdom, Germany and South Africa” . University of Stellenbosch . unpublished PhD thesis,
   Google Scholar
• Santos , J.A.C. 2000 . “Bank capital regulation in contemporary banking theory: A review of the literature” , Bank for International Settlements Working Papers Vol. 90 ,
   Google Scholar
• Kahane , Y. 1977 . “Capital adequacy and the regulation of financial intermediaries” . Journal of Banking Finance, , 1 : 207 – 18 .
   Google Scholar
• Besanko , D. and Kanatas , G. 1996 . “The regulation of bank capital: Do capital standards promote bank safety? . Journal of Financial Intermediation, , 5 (2) : 160 – 83 .
   Google Scholar
• von Thadden , E‐L. 2004 . “Bank capital adequacy regulation under the new Basle Accord” . Journal of Financial Intermediation, , 13 : 90 – 95 .
   Google Scholar
• Buiter , W.H. 2008 . “Lessons from the North Atlantic financial crisis” . Financial Times , 28 May
   Google Scholar
• Various updates have been released subsequently, as the website of the Bank for International Settlements indicates (see http://en.wikipedia.org/wiki/Basle_II#July_ 16.2C_2008_update) (http://en.wikipedia.org/wiki/Basle_II#July_ 16.2C_2008_update))
   Google Scholar
• An assessment obtained from Wikipedia, [Accessed on 25 March 2009] http://en.wikipedia.org/wiki/Basle_II# July_16.2C_2008_update (http://en.wikipedia.org/wiki/Basle_II# July_16.2C_2008_update)
   Google Scholar
• Goodhart , C.A.E. 2008 . “The regulatory response to the financial crisis” . Journal of Financial Stability, , 4 : 356
   Google Scholar
• Meier , G. 1975 . “Commercial banking” . In Essays on the South African financial structure Edited by: Hamersma , A. and Czypionka , N.H.H. 33 Johannesburg
   Google Scholar
• Standard Bank Corporate Finance Department . “Merchant banking” . Edited by: Hamersma and Czypionka . 45 op cit,
   Google Scholar
• van Greuning , J. 1993 . “The implementation of a risk‐based approach to bank supervision as a micro‐economic component of monetary policy” . 42 University of Pretoria . unpublished PhD thesis,
   Google Scholar
• Koseff , S. 1984 . “Bank failure in South Africa: A research report” . University of the Witwatersrand . unpublished MBA thesis,
   Google Scholar
• Brummerhof , W. 1988 . “Finansieringsaktiwiteite van bankinstellings wat nie in hulle balansstate verskyn nie: ‘n Kritiese ontleding van heersende bankpraktyke en die implikasies vir banktoesigowerhede in die RSA en enkele westerse lande” . University of Stellenbosch . unpublished PhD thesis,
   Google Scholar
• 2008 . Government Gazette , 1 January 30629,
   Google Scholar
• 2001 . Government Gazette , 5 October 22737,
   Google Scholar
• Brown , R.L. , Durbin , J. and Evans , J.M. 1975 . “Techniques for testing the constancy of regression relationships over time” . Journal of the Royal Statistical Society , : 149 – 63 . Series B37,
   Google Scholar
• Inclán , C. and Tiao , G.C. 1994 . “Use of cumulative sums of squares for retrospective detection of changes of variance” . Journal of the American Statistical Association, , 89 (427) : 913 – 23 .
   Google Scholar
• Andreou , E. and Ghysels , E. 2002 . “Detecting multiple breaks in financial market volatility dynamics” . Journal of Applied Econometrics, , 17 : 579 – 600 .
   Web of Science ®Google Scholar
• Department of Economics, University of Stellenbosch. We would like to thank Rik Goedhuys, Maadian Botha, Daleen du Toit, Christo Wiese, Michael Jordaan, Errol Kruger, Hennie van Greuning, Stephen Koseff, participants at both the University of Stellenbosch and Economic Research of Southern Africa seminars, and an anonymous reviewer for their comments and help in preparing this paper.
   Google Scholar