This paper discusses key findings of the Financial System Stability Assessment (FSSA) and Reports on the Observance of Standards and Codes (ROSC) on Banking Supervision, Securities Regulation, Insurance Supervision and Regulation, and Securities Settlement Systems for Belgium. The assessment...

In 2004, the mutual fund industry of Costa Rica experienced a massive run by investors that reduced the industry to half its size in a month. This paper explores how weaknesses in the regulatory framework played a role in the crisis and draws lessons for developing countries. The analysis of...

We investigate the relationship between anchoring and the emergence of bubbles in experimental asset markets. We show that setting a visual anchor at the fundamental value (FV) in the first period only is sufficient to eliminate or to significantly reduce bubbles in laboratory asset markets. If...

This paper aims at providing an overview of several topics that have been addressed in the field of experimental asset markets. Rather than being exhaustive in any single topic, this review is meant to gather the several research strands, and to provide a powerful picture of the main advances on...

We investigate the relationship between anchoring and the emergence of bubbles in experimental asset markets. We show that setting a visual anchor at the fundamental value (FV) in the first period only is sufficient to eliminate or to significantly reduce bubbles in laboratory asset markets. If...

As the financial crisis effects continue to spread around the world, Romania is no exception to the global economic climate, as the country continues its attempts to better integrate into the European Union. To what extent is the Romanian residential market affected by the United State financial...

A unique data set enables us to test the hypothesis that more economists than otherwise identical investors hold stocks due to informational advantages. We confirm that economists have a significantly higher probability of participating in the stock market than investors with any other...

A large register-based panel data set containing detailed information on educational attainments as well as financial and socioeconomic variables for individual investors enables us to test the hypothesis that due to informational advantages economists are more likely to hold stocks than...

Settlement is an important part of the regulatory authority’s enforcement program in capital markets. When compared to other countries, one of the major weaknesses currently characterizing Turkish securities markets in terms of enforcement powers is that regulatory authority (i.e. the Capital...