Purpose – The purpose of this paper is to understand the reasons why some financial crises do not result in extensive criminal prosecutions. Design/methodology/approach – The authors examine three major events: the crash of 1929 leading to the Great Depression, the collapse of the US Savings...

Outlines the requirements of the PATRIOT Act of October 2001; together with subsequent legislation, it has led to a dramatic increase in surveillance activities affecting both traditional financial institutions and the newer types known as Money Service Businesses. Lists its demands, that all...

Purpose – The purpose of this paper is to examine the legislative process, in order to determine the likely effectiveness of financial reform efforts in the USA. Design/methodology/approach – Case study of the legislative process, particularly the less visible parts such as rule making, that...

Purpose – While the “Information Age” has provided the technological tools to “democratize” data and make it widely available to a vast audience of knowledge consumers, ironically it has also provided the materials for a tapestry of rules, regulations and processes that make it more...

Purpose – The desirability of financial reform to avoid another financial melt‐down is widely accepted, but the likelihood of reform is uncertain. The purpose of this paper is to present a case study of evolution and reform attempts at US mortgage giants Fannie Mae and Freddie Mac and...

Purpose – The purpose of this paper is to examine the legislative process, in order to determine the likely effectiveness of financial reform efforts in the USA. Design/methodology/approach – Case study of the legislative process, particularly the less visible parts such as rule making, that...

This paper develops a multivariate error-correction model to test the causality between exports and growth in 15 Asian countries, 1967-91. The underlying series are tested as non-stationary in levels but stationary in first differences. The causal factors are cointegrated in five of these...

This study finds that on average aid has little impact on economic growth, although a robust finding is that aid promotes growth only in a politically stable environment irrespective of the quality of the country's economic policies. Aid is ineffective in an unstable environment even in the...

ISLAM M. N. (1998) Fiscal illusion, intergovernmental grants and local spending, Reg. Studies 32 , 63-71. This paper provides some evidence of fiscal illusion of a reduced tax-price of public service, engendered by provincial grants to local governments. A model of fiscal response to grants,...

Investigates the effects on the family and society when an American business owner hides his wealth from creditors and family members, based on a case study where a non‐custodial father moved funds into highly secret jurisdictions to evade US tax, disappeared, and left his wife left liable for...