In 1997, the Organisation for Economic Co-operation and Development (OECD) adopted the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (‘Convention’) which required each member state to make foreign bribery a crime in their respective...

The global financial crisis has cast a strong light on some hitherto obscure corners of the financial world, provoking an outpouring of calls for concerted international action. “Hard law” having disappointed, can “soft law”, in the form of international financial standards, substitute...

This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly...

This book presents the reasons for which, given the globalization brought about by the ICT revolution, both liberalism and realism are ill suited as guides for international relations. And it argues in favor of a third option: institutionalism. The liberal ideal of progress and peace, brought...

The rising delinquencies in the U.S. subprime mortgage market in 2006 and the succeeding collapse in housing prices had a considerably negative impact on the functioning of the European financial systems and the smooth operation of European economies. Indeed, in the Euro-area, what started as a...

The European Union budget is financed by taxes paid by European taxpayers andserves for the development of projects of common interest. The European Community and itsMember States attach great importance to its protection, both in terms of proper collection of taxesand duties and also in terms...

The European Union proposed a new model of economy, at this beginningof century and millennium: the economy of knowledge, simultaneous with the emergenceof a new existential reality for us people, after Christ was born; this new, existentialreality are the climatic changes.In spite of the...

The European Commission is the authority that supervises the EuropeanUnion structural funds, which are meant to finance the measures of structural aid at thecommunity level, aiming to promote the regions lagging behind in development, toreconvert the areas affected by industrial decline, to...

Real convergence is the key economic challenge for the new EU Member Countries. The main growth area today is the 'new' entrepreneurial economy of creativity and innovation. But such an economy needs a financial structure capable of coping with the higher risk inherent in the 'new' economy. To...

This paper examines the impact on financial development of financial globalization in Latin America. An empirical test is elaborated with new indicators of financial globalization and financial development, closer to theoretical and conceptual framework. A dynamic panel data model is employed; the...