Regulating Australia's financial stability in the national interest

Louise Parsons*

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapterResearchpeer-review

Abstract

Given the importance of financial stability to Australia, it seems somewhat surprising that the Australian Parliament has not fully and clearly utilised its available regulatory tools to mandate and empower the Reserve Bank of Australia (RBA) with the overarching responsibility for financial stability. This chapter argues that financial stability is a national interest of Australia, and that both persistent and new threats to financial stability warrant appropriate regulatory action by the Australian government. This chapter briefly outlines Australia's current regulatory architecture for financial stability. It concludes that the current regulatory framework in Australia, addressing in particular the responsibility and accountability of the RBA for financial stability, should be clarified.
Original languageEnglish
Title of host publicationAustralia's trade, investment and security in the Asian century
EditorsJ Farrar, M Hiscock, V I Lo
Place of PublicationSingapore
PublisherWorld Scientific Publishing
Chapter14
Pages251-269
Number of pages19
ISBN (Electronic)9789814632874
ISBN (Print)9789814632867
DOIs
Publication statusPublished - 2015

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  • Related Research Outputs

    • 1 Scholarly edition

    Australia’s trade, investment and security in the Asian century

    Farrar, J. (ed.), Hiscock, M. (ed.) & Lo, V. I. (ed.), 1 Jan 2015, World Scientific Publishing. 327 p.

    Research output: Book/ReportScholarly editionResearchpeer-review

  • Cite this

    Parsons, L. (2015). Regulating Australia's financial stability in the national interest. In J. Farrar, M. Hiscock, & V. I. Lo (Eds.), Australia's trade, investment and security in the Asian century (pp. 251-269). World Scientific Publishing. https://doi.org/10.1142/9789814632874_0015