A large body of evidence points to misaligned incentives as having a key role in the run-up to the global financial crisis. These include bank managers' incentives to boost short-term profits and create banks that are "too big to fail," regulators' incentives to forebear and withhold information from other regulators in stressful times, and credit rating agencies' incentives to keep issuing high ratings for subprime assets. As part of the response...
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INFORMATION
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2013/01/01
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Document de travail de recherche sur les politiques
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WPS6308
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1
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1
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2013/01/01
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Disclosed
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Incentive audits : a new approach to financial regulation
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Finance & Private Sector Development
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