The costs and benefits of financial regulation. Towards a monitoring system

This book is the outcome of a study promoted by, and discussed at, the Osservatorio sulla distribuzione finanziaria, a network of associations and stakeholders engaged in the distribution of financial services, of the Italian banking insurance and finance federation. It is based on the work of a research group at the Centro Arcelli per gli Studi Monetari e Finanziari, coordinated by Giorgio Di Giorgio of LUISS University. This work shows the usefulness of analysing in a sound conceptual framework the impact and effectiveness of financial regulation, but also its enormous difficulties due to data gaps, lack of suitable indicators, poor comparability of the evidence. A "promising way forward" therefore - the volume suggests- is to build a dedicated monitoring infrastructure based on a regular systematic and transparent collection of information and policy analysis.