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The 2007 Meltdown in Structured Securitization : Searching for Lessons, Not Scapegoats
Caprio, Gerard, Jr.; Demirg????-Kunt, Asl??; Kane, Edward J. - 2012
The intensity of recent turbulence in financial markets has surprised nearly everyone. This paper searches out the root causes of the crisis, distinguishing them from scapegoating explanations that have been used in policy circles to divert attention from the underlying breakdown of incentives....
Persistent link: https://www.econbiz.de/10012552219
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Current Challenges in Financial Regulation
Claessens, Stijn - 2012
Financial intermediation and financial services industries have undergone many changes in the past two decades due to deregulation, globalization, and technological advances. The framework for regulating finance has seen many changes as well, with approaches adapting to new issues arising in...
Persistent link: https://www.econbiz.de/10012553921
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Bankruptcy Around the World : Explanations of its Relative Use
Claessens, Stijn; Klapper, Leora F. - 2013
also highlighted the importance of insolvency systems to resolve corporate sector financial distress. The literature and … the effects of specific design features of insolvency regimes in relation to the quality of the countries' overall … system. These findings suggest that there are important incentive effects of insolvency systems encouraging less risky …
Persistent link: https://www.econbiz.de/10012559623