These, together with poor regulation, distorted investment decisions, encouraging bankers to finance risky projects in the expectation that they would enjoy the profits, if any, while the government would cover serious losses.
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In the wake of this scandal, other critics raised general concerns about the islands' secrecy, their allegedly poor enforcement of regulation and their poor co-operation with other jurisdictions.
In a recent study of seven different sectors of the Thai economy, McKinsey, a consultancy, found that poor government regulation was the single biggest barrier to productivity growth in almost every instance, whether in manufacturing or services, in export-oriented or locally consumed products.
He is concerned that poor decisions on regulation will flow from the lack of correct information and noted that both the exchanges and the broker-dealer community have been quiet on the issues.
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They are pioneers in a market with low incomes, poor technology and excessive regulation.
This incident may show that deep-water drilling is too risky, but it might instead be just a perfect storm of ineffective regulation, poor decision-making, and bad luck, with minimal chance of recurrence.
Poor infrastructure, clumsy regulation and wayward judiciaries mean that doing business in Latin America remains more difficult and costly than in many countries in Asia or eastern Europe, with which it competes.
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In some countries, their sale was badly handled: either tainted by corruption, or by private monopolies, or because regulation has been poor.
The report by the Financial Services Authority (FSA) said the bank nearly folded in 2008 due to poor management decisions, inadequate regulation and a flawed supervisory system.
If certain derivative trades are as risky as those who seek more regulation suggest, and if a poor trade threatens one or both parties with penury, isn't the possibility of failure all the regulation that is needed?
This was the start of Medicaid for the poor and, later, increased regulation of industry through bodies like the Environmental Protection Agency.
The people who believed in the free market and the people who believed in kind of unions and government regulation and action for the poor didn't speak to each other and took turns kind of pushing one extreme policy to the other and then they all got over themselves.
Latin America's overall record of productivity growth is poor, thanks to a toxic mixture of burdensome regulation, a large informal economy and a lack of innovation.
Such candidates are usually isolationist, desire heavier government regulation of the economy and subsidies for the poor.
Among the policies needed are strong regulation of insurers to prevent bad behaviour, subsidies for the poor and the creation of health-insurance exchanges.
Yet the report shows how poor countries' governments often tie their own people down in a thicket of useless regulation.
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