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Banking and Financial Regulation in Emerging Markets


Special issue call for papers from International Journal of Law and Management

Guest Editors

Professor SK Shanthi, Union Bank of India Chair Professor, Banking and Finance, Great Lakes Institute of Management, Chennai, India ([email protected]).

Professor Vinay Kumar Nangia, Banking & Financial Markets, Indian Institute of Technology (IIT), Roorkee, Uttarakhand, India ([email protected]).

Professor Sanjoy Sircar, Director-PGPM, Finance and Accounting, Great Lakes Institute of Management, Chennai, India ([email protected]).

Theme of the special issue

This Call for Papers is a Special Issue of International Journal of Law and Management, which aims to review the banking and financial regulations, and corporate governance practices of emerging market nations. Therefore, the Guest Editors of this Special Issue welcomes senior academic scholars, banking professionals, business consultants and doctoral students thus to contribute extant new knowledge to the body of literature on banking and financial regulation. In particular, it encourages authors to submit their papers on comparative and/or competitive in view of banking regulations, financial systems and laws, and corporate governance practices in financial markets, especially emerging markets perspectives (e.g. Amri et al., 2011). It accepts quantitative and/or qualitative methodology-based, review and view-point articles. It is strongly advised that papers should advance policy thinking and policy measures for a social and/or economic good.

It is worth mentioning that there is a great deal of capital-flows, financial activities and financial markets integration between developed and developing countries in light of economic deregulation and policy amendments. Thus, these activities have been removed many regulatory hurdles, conversely facilitated an association and integration between banking and financial markets operations of different emerging market countries. For example, Valdez (2003, pp. 25-26) suggests that international banking involves a variety of activities such as deposits/loans to countries, also covers cross-border operations, trade finance, foreign exchange, corresponding banking, international payment services and so on. Therefore, it is essential to understand different banking systems and financial regulations of emerging markets.

On the other hand, it is fact that global financial system has faced several crises like the Asian financial crisis (1997), dot-com bubble (1997-2000), and the recent sub-prime crisis (2007) that have led governments and regulators to take preventive actions in ensuring financial markets stability (Paulet, 2011). Conversely, Paulet also suggests that “regulation is a necessary but not sufficient condition to ensure the efficiency of banking and financial markets, therefore these institutions “should be refocused on the collection and distribution of long term lending and retail activities”. Likewise, Mullineux (2006) mentions that banks require good regulation that should be aimed at limiting the excessive risk taking, and attention to conflicts of interest and competition issues, especially given the clear information advantage of banks over their retail customers (p. 381). Overall, regulatory system and corporate governance practices must be wide-spread and well-balanced (Petitjean, 2013). In a recent study, Barth et al. (2013) survey the bank regulatory and supervisory policies in 180 economies during 1999-2011 and infer that “there has not been a convergence in bank regulatory regimes over the past decade despite the worst global financial crisis since the Great Depression”.

In particular, de Mendonça et al. (2012) suggest that the given regulation and transparency of the Brazilian financial and banking system could be progressed through an optimal balance between governmental regulation and market discipline. Furthermore, apart from the crisis a given economy should monitor and control unethical actions, like insider trading, money laundering and other unacceptable practices. With this backdrop, this special issue welcomes scholars to submit their research work on the following themes, but not limited.      

Topic I: Review of Banking Regulations

  • Traditional vs. Modern banking system
  • Basel II and III regulations
  • Regulation of Banks and Banking activities
  • Legal aspects of banking business
  • Commercial banking vs. Corporate Banking
  • Investment banking
  • Local vs. International banking
  • Internationalization of banking operations
  • Financial performance of banking and financial institutions
  • Public, Private vs. International banking
  • Banking and Monetary economics
  • Banking and Fiscal economics
  • Banking, Inflation and Interest rate
  • Financial crime in banking business
  • Unacceptable practices in banking business
  • Corporate governance in Banking

Topic II: Review of Securities and Financial Laws

  • Regulation of Financial Markets and Institutions
  • Primary market vs. Secondary market norms and guidelines
  • Regulation and Taxation of Financial Services
  • Financial markets and economic growth
  • Regulation of Mergers and Acquisitions, and Takeovers
  • Regulation of Mutual Funds
  • Regulation of Insurance business
  • Regulation of Commodity markets
  • Gaps in Corporate Tax laws and practices (e.g. Ezeoha & Ogamba, 2010)
  • Association, Integration and Stock Markets
  • Single vs. Dual listing norms and consequences
  • Fraud and investigation in financial markets
  • Insider trading and unacceptable practices, and regulation (Kadir & Muhamad, 2012)
  • Business ethics code in financial markets
  • Regulation, Policy initiative and economic development

Submission and Publication Information

Submission of First Draft via ScholarOne Manuscripts: 28 February, 2014

First round review comments returned to authors: 30 June, 2014

Submission of revised-papers via ScholarOne Manuscripts: 31 August, 2014

Final Decision: 15 October, 2014

Year of publication: Second issue of 2015 (57[2])

Number of papers: 4/5 papers

Submission guidelines

Authors are advised to follow the manuscript requirements; see the “Author Guidelines” mentioned on the International Journal of Law and Management. Authors may contact Guest Editorial Assistant for assistance, if any.

Please submit via http://mc.manuscriptcentral.com/ijlma, and choose “Banking and Financial Regulation in Emerging Markets” in the dropdown list provided at “Type of Issue”.

Key benefits to the authors: There is one best paper award, which will be conferred by the Guest Editors of this special issue.  

Authors may contact Guest Editorial Assistant, K. Srinivasa Reddy ([email protected]) for assistance in manuscript preparation, submission assistance and other possible explanations/queries, if any.

References

Amri, P., Angkinand, A.P. and Wihlborg, C. (2011), “International comparisons of bank regulation, liberalization, and banking crises”, Journal of Financial Economic Policy, Vol. 3 No. 4, pp. 322-339.
Barth, J.R., Caprio, G. Jr. and Levine, R. (2013), “Bank regulation and supervision in 180 countries from 1999 to 2011”, Journal of Financial Economic Policy, Vol. 5 No. 2, in press. 
de Mendonça, H.F., Galvão, D.J.C. and Loures, R.F.V. (2012), “Financial regulation and transparency of information: evidence from banking industry”, Journal of Economic Studies, Vol. 39 No. 4, pp. 380-397.
Ezeoha, A.E. and Ogamba, E. (2010), “Corporate tax shield or fraud? Insight from Nigeria”, International Journal of Law and Management, Vol. 52 No. 1, pp. 5-20.
Kadir, R. and Muhamad, S. (2012), “Insider trading in Malaysia; towards an improved regulation”, International Journal of Law and Management, Vol. 54 No. 1, pp. 78-86.
Mullineux, A. (2006), “The corporate governance of banks”, Journal of Financial Regulation and Compliance, Vol. 14 No. 4, pp. 375-382
Paulet, E. (2011), “Banking ethics”, Corporate Governance, Vol. 11 No. 3, pp. 293-300.
Petitjean, M. (2013), “Bank failures and regulation: a critical review”, Journal of Financial Regulation and Compliance, Vol. 21 No. 1, pp. 16-38.
Valdez, S. (2003), An Introduction to Global Financial Markets, 4th Ed., Palgrave Macmillan, New York, NY.