Investor protection and the costs of public policy failure

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dc.contributor.advisorHugh, H Sen_ZA
dc.contributor.authorSteward, Chrisen_ZA
dc.date.accessioned2015-09-14T07:07:09Z
dc.date.available2015-09-14T07:07:09Z
dc.date.issued1993en_ZA
dc.descriptionBibliography: leaves 82-88.en_ZA
dc.description.abstractCompetitive markets respond automatically to change. Corrective forces are delivered by the pricing mechanism, where price changes indicate new allocations in the consumption of economic resources. Those market participants that are unable to respond adequately to change fail, resulting in a restructuring of the marketplace. Such failures are necessary in order to prevent a misallocation of scarce resources. Public policies, by attempting to suppress or eliminate the dynamic corrective processes of competitive markets, may lead to significant distortions in the marketplace. Using the collapse of the American Savings and Loan Industry as a case study, this paper analyses the distortions that may arise in the provision of financial services as a consequence of misguided public policy. While it is recognised that there may be scope for some public sector involvement in the financial sector of an economy, the overriding theme is that the goal of financial stability would best be served by actively promoting the corrective forces of private, competitive markets.en_ZA
dc.identifier.apacitationSteward, C. (1993). <i>Investor protection and the costs of public policy failure</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/13843en_ZA
dc.identifier.chicagocitationSteward, Chris. <i>"Investor protection and the costs of public policy failure."</i> Thesis., University of Cape Town ,Faculty of Commerce ,School of Economics, 1993. http://hdl.handle.net/11427/13843en_ZA
dc.identifier.citationSteward, C. 1993. Investor protection and the costs of public policy failure. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Steward, Chris AB - Competitive markets respond automatically to change. Corrective forces are delivered by the pricing mechanism, where price changes indicate new allocations in the consumption of economic resources. Those market participants that are unable to respond adequately to change fail, resulting in a restructuring of the marketplace. Such failures are necessary in order to prevent a misallocation of scarce resources. Public policies, by attempting to suppress or eliminate the dynamic corrective processes of competitive markets, may lead to significant distortions in the marketplace. Using the collapse of the American Savings and Loan Industry as a case study, this paper analyses the distortions that may arise in the provision of financial services as a consequence of misguided public policy. While it is recognised that there may be scope for some public sector involvement in the financial sector of an economy, the overriding theme is that the goal of financial stability would best be served by actively promoting the corrective forces of private, competitive markets. DA - 1993 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 1993 T1 - Investor protection and the costs of public policy failure TI - Investor protection and the costs of public policy failure UR - http://hdl.handle.net/11427/13843 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/13843
dc.identifier.vancouvercitationSteward C. Investor protection and the costs of public policy failure. [Thesis]. University of Cape Town ,Faculty of Commerce ,School of Economics, 1993 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/13843en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentSchool of Economicsen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherEconomicsen_ZA
dc.titleInvestor protection and the costs of public policy failureen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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