监管套利产生于监管部门间由于责任不清而导致的监管权限的重叠与缺位， 往往会拖延市场发展和体制改革，因为各监管机构间的协调并不容易。
Regulatory arbitrage arises from competition among central-government agencies for the authority to regulate – competition that often delays market reforms and institutional change, owing to agencies’ unwillingness to accept one another’s authority.