ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Financial Norms: Complying with Standards

Complying with Standards Raghbendra Jha writes: It is almost a truism now that global financial and, indeed, goods and services markets are getting increasingly integrated. By implication, government policies and regulations that impinge on such markets can cause international spillover effects, which need to be managed. To achieve this it is important to set norms, adherence to which would provide early warning of such spillover effects. Further, uniform standards across major markets would reduce transaction and compliance costs and thereby increase financial market efficiency. In this sense uniform standards serve as international public goods

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