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Regulation and Economics
The dynamic evolution of the financial system is stirring up the regulatory debate. Recent theoretical insights in the role of financial intermediaries and banks shed new light on the role of financial regulation. Information asymmetries, adverse selection and moral hazard problems help to explain the need for investors' protection and the occurrence of systemic crises that may endanger financial stability. Lender of last resort interventions and deposit insurance are to be complemented bydoi:10.4337/9781782540465.00023 fatcat:p5whq3igzrh3ldw2sx4jirb4r4