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Kostas Tsatsaronis

Kostas Tsatsaronis is Head of Financial Institutions and Infrastructures in the Research and Policy Analysis Division at the Bank for International Settlements.

Titles by This Editor

The effectiveness of market discipline—the strong built-in incentives that encourage banks and financial systems to operate soundly and efficiently—commands much attention today, particularly in light of recent accounting scandals. As government discipline, in the form of regulation, seems to grows less effective as the banking industry and financial markets grow more complex, the role of market discipline becomes increasingly important.