1. at page 31; Furthermore, Esty and Geradin argue that whilst proponents of regulatory competition may contend that co-opetition leads to increased regulatory "capture" by interest groups -hence reduced governmental transparency and accountability, that "pitting environmental NGOs, industry associations, and other interests against each other, works out to flesh out viable policies, induce investment in the creation of policy analysis and other valuable information"-factors which, in their opinion, provide a watch dog mechanism and consequently serve as a check on regulatory capture; see ibid at page 45 70 EJ Pan;D See;Regulatory Competition and Economic Integration: Comparative Perspectives,2001
2. Cyclical Effects of Bank Capital Requirements with Imperfect Credit Markets;P Ag�nor;World Bank Policy Research Paper