Knowledge Codification, Institutions and Financial Markets

Morrison, Alan (2010) Knowledge Codification, Institutions and Financial Markets. Manchester School, 78 (SUP1). pp. 1-24.


Outcomes in financial markets depend upon the information available to market participants, and upon the contractual commitments that they can make. Many important commitments in financial markets are made outside the formal law, using institutional mechanisms that provide a plausible basis for commitment. Advances in information technology and changes to the political environment alter the institutions that are needed to support economic life, and hence should result in regulatory change. I illustrate this point with examples from investment and commercial banking, and I relate the design of regulatory institutions to the political and technological environment within which they operate.

Item Type: Article
Keywords: Money market; Securities; Banking industry; finance
Subject(s): Corporate reputation
Centre: Oxford University Centre for Corporate Reputation
Date Deposited: 27 Feb 2012 09:32
Last Modified: 26 Sep 2018 09:36
Funders: N/A

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