Mr. White discusses promoting international financial stability: the role of the BIS Paper by Mr. William R. White, Economic Adviser and Head of the Monetary and Economic Department, Bank for International Settlements, to be published in the forthcoming conference volume “Regulatory and supervisory challenges in a new era of global finance” from the Forum on Debt and Development (FONDAD) to be held in August 1998.
It may be expensive, or it may be distributed unevenly across market players. Not all participants are willing to bear the cost of collecting the necessary information, in particular when it is easy for others to free-ride on their efforts.