Abstract Economists generally study financial regulation in a ‘market failure’ context. Market failures, as defined undergraduate textbooks, are identified and government action is proposed to remedy those failures. Quite apart from objections the market‐failure model that can come many perspectives, this approach ignores ways which regulatory institutions develop within markets. Indeed, such w...

Nowadays, the widespread connections among national and international organizations and industries make crisis in one area distress other organizations. One of the sensitive industries is banking industry, which has faced fundamental changes due to the various economic and political crisis in the last decade. Alterations such as exchange rates fluctuations, bankruptcy of unorganized institution...

This commentary to the editorial of Hajizadeh argues that the economic, social and health consequences of legalizing cannabis in Canada will depend in large part on the exact stipulations (mainly from the federal government) and on the implementation, regulation and practice of the legalization act (on provincial and municipal levels). A strict regulatory framework is necessary to minimize the ...

Thispaper attempts to connect two rather different fields of study by applying concepts from regulating technological risks to the field of cyberspace regulation. The concept of framing assumption is used in order to show the cyberspace regulation differences in  countries particularly between the U.S. and the Euopean system. It shows how the U.S. and Europe have adopted different assumptions r...

Urban rail transit is the construction project under the planning and huge investment of the government. How to effectively conduct investment regulation and control becomes the core question that the government departments are concerned about. In this paper, the relations among government, owner and contractor are studied and the static and dynamic game model is built for behaviors among each ...