The process of financial deregulation, and especially the dismantling of
direct monetary controls, has been underway for some time now in many
financially-developed economies, but little attention has been devoted
to analysis of the issues involved in the academic literature. This book
represents an attempt to remedy that deficiency providing, as it does, a
detailed analysis of the programmes of financial deregulation pursued in
the United Kingdom and Australia since 1970 and an assessment of the
implications for monetary and prudential policy.