Financial systems profoundly shape our world by determining who gets access to capital and financial services and under what terms. Consequently, they influence the rate of technological innovation and economic growth, the entry and exit of firms, the economic opportunities available to individuals, the affordability of home ownership, and the vibrancy of the labor markets where people seek employment. When financial systems falter, the repercussions can be widespread, often prompting calls for significant economic and political changes.

Which financial regulatory reforms promote economic prosperity? And why do societies find it so difficult to create financial systems that are both efficient and stable? Despite the gravity of these questions, consensus remains elusive.

The Working Group on Financial Regulation convenes an interdisciplinary network of scholars from economics, finance, law, political science, and history. Our goal is to spur research addressing these pivotal questions and disseminate the findings to the research community, policymakers, and the wider public.

The Working Group hosts a conference each year, welcoming researchers, policymakers, and industry experts to discuss research findings and exchange ideas. We also publish research briefings that communicate the policy implications of this research to non-specialists. Additionally, the Working Group holds small symposia and hosts public panel discussions with policymakers to tackle the foremost financial regulatory challenges facing the U.S. and other countries.

The opinions expressed on this website are those of the authors and do not necessarily reflect the opinions of the Hoover Institution or Stanford University.

© 2024 by the Board of Trustees of Leland Stanford Junior University.

Stephen Haber

Stephen Haber

Peter and Helen Bing Senior Fellow

Stephen Haber is the Peter and Helen Bing Senior Fellow at the Hoover Institution, the A.A. and Jeanne Welch Milligan Professor in the School of Humanities and Sciences at Stanford University, and senior fellow at the Stanford Institute for Economic Policy Research. In addition, he is a professor of political science, professor of history, and professor of economics (by courtesy).

Ross Levine

Ross Levine

Senior Fellow

Ross Levine is a Senior Fellow at the Hoover Institution and a Research Associate at the National Bureau of Economic Research. Previously a faculty member at the University of California, Berkeley’s Haas School of Business, Levine now co-directs Hoover’s Working Group on Financial Regulation.

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