Regulation and Supervision of Financial Markets
|Author:||Mgr. Jan Lomoz|
|Year:||2004 - summer|
|Leaders:|| † doc. Ing. Jiří Havel CSc.
|Work type:|| Finance and Banking
|Awards and prizes:|
|Abstract:||The thesis aims on the comparison of institutional arrangement of financial market regulation and supervision in United States and Czech republic.
The opening part provides theoretical outlook on the reasons and approaches to the financial market regulation. There are discussed the basic goals, which effective regulative authority must fulfil.
The following part contains the comparison of institutional arrangement of regulation and supervision in USA and Czech republic. This part does not work with all segments of financial markets. On the contrary, it concentrates itself only on the capital market segment. The reason is its specific way of establishment in Czech republic, which is closely connected with voucher privatisation. The institutional framework of regulation and supervision in USA then provides valuable benchmark, because American capital market is generally perceived as the most developed market in the world. Institutional level of capital market regulation and supervision is more and more important, because the rate of bank intermediation constantly decreases. That’s why the role of capital markets will increase from the point of view of total volume of investment.