1. From the Perspective of Australia  From the perspective of the Australian economy, the move to financial deregulation, and to the lifting of restrictions on international capital movements, has been a success. We can date it approximately from the floating of the exchange rate, and the abolition of exchange controls, in 1983.
Although we characterise this 15-year period as being an era of deregulation, that is only a very approximate description. While the authorities have stopped setting prices such as the exchange rate or the interest rates banks can charge on mortgages, there is still a large everevolving body of regulation in place aimed at ensuring financial stability and efficient and fair markets.