Essays on Financial Regulation

Abstract

This dissertation identifies the effects of regulatory reforms on economic outcomes with a strong focus on real effects. In the first chapter, we analyze the effect of leverage ratio regulation on repo markets exploiting a novel regulatory change in the UK in January 2017. In the second chapter, we analyze the side effects of capital outflow controls on the real economy through multiple channels - trade and financial - based on an episode in Greece in June 2015. In the final chapter, we examine the relationship between financial globalization and trade integration, exploiting the staggered transposition into national law of the Financial Services Action Plan (FSAP) in period 1999-2003.