# Capital Markets: The Rule of Law and Regulatory Reform 

September 13, 1999 • White Paper 

By [Solveig Singleton](https://www.cato.org/people/solveig-singleton) 

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Why drag the concept of the rule of law into a discussion of how to wring more nifty concepts out of the minds of scientists and entrepreneurs? Every time the regulatory rug is pulled out from under the feet of a long-term investor, it dampens his enthusiasm for investment. The results are short-term regulatory arbitrage and slower growth. This paper outlines some regulatory reforms to provide certainly and fairness to long-range investors and business planners.

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### Download This White Paper

##### Capital Markets: The Rule of Law and Regulatory Reform 

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](https://www.cato.org/sites/cato.org/files/pubs/pdf/capital-markets-rule-of-law-regulatory-reform.pdf) 

##### About the Author 

[![Solveig Singleton--cropped-2](/sites/cato.org/files/styles/author_picture/public/2025-06/Solveig%20Singleton--cropped-2.jpg?itok=c6fGGYKN)](/people/solveig-singleton) 

##### [Solveig Singleton](/people/solveig-singleton)

Policy Analyst, Center for Monetary and Financial Alternatives, Cato Institute

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This work is licensed under a [Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License](https://creativecommons.org/licenses/by-nc-sa/4.0/). 

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