Title: Wallis to Murray: refining Australia's financial regulatory system

Authors: Suneeta Sathye; Milind Sathye

Addresses: University of Canberra, ACT 2617, Australia ' University of Canberra, ACT 2617, Australia

Abstract: The global financial crisis renewed interest in the financial regulatory system across the world. We examine, in the Australian regulatory context, whether the objectives of Wallis Inquiry have been met and whether the Murray recommendations would help address the desired competition and regulatory public policy objectives. We extend the prior work of Thomson and Abbott (2000b). We found that the Wallis Inquiry did help strike an appropriate balance between competition and stability. In our view, though the Murray Inquiry takes the agenda further there are several areas in which its policy prescriptions are found wanting.

Keywords: financial regulation; Murray Inquiry; Australia; Wallis Inquiry.

DOI: 10.1504/IJPP.2020.113724

International Journal of Public Policy, 2020 Vol.15 No.5/6, pp.411 - 431

Accepted: 20 Aug 2020
Published online: 19 Mar 2021 *

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