The study examines the effect of financial crises on international trade with a gravity approach and a large data set covering almost 70 importing and 200 exporting countries from 1950 to 2009. Thus it is possible to put the "Great Trade Collapse" witnessed during the financial crisis 2008/2009,...

The thesis studies three pivotal episodes in the evolution of what became the Global Financial Crisis of 2008-09. These three events - the collapse of the US housing market, the breakdown of the repo money market, and the banking crash - are indispensable for understanding some of the key...

The 2008 crisis made clear that credit rating agencies (CRAs) can contribute to systemic financial risk. Surprisingly, post-crisis reforms have hardly addressed the underlying problems, including rating agencies' methodologies, their ratings' homogeneity, and widespread market reliance on these...

[Purpose:] The last four decades have seen the rise of the International Accounting Standards Board (IASB) as the core locus of transnational accounting regulation. Initial steps of associational cooperation were superseded by establishing a standard setting organization that heavily draws on...

In the wake of the global financial crisis that erupted in 2008, there has been extensive commentary and regulatory focus on the 'Too Big to Fail' issue. In this paper, we survey the proposed solutions and regulatory initiatives that have been undertaken. We conduct a longitudinal analysis of...

This paper uses the novel quantile coherency approach to examine the tail dependence network of 49 international stock markets in the frequency domain. We find that geographical proximity and state of market development are important factors in stock markets networks. Both the short- and...