This paper analyses the emerging international supervisory regime for banking institutions that operate on a transnational basis. It focuses on the basle framework as an institutional regime of norms and principles that govern international financial relations amongst the g10 countries. This...

The key analytical and policy question examined in this paper is whether multinational companies and their overseas investment need to be regulated at the national or the international level, in order to address market failures, and to enhance their potential contribution to world welfare. The...

Opinion is sharply divided over whether EMU is leading to regional economic convergence or regional economic divergence. This paper examines the theoretical arguments and empirical evidence for these opposing views, and presents some additional analysis of patterns of regional productivity...

The paper presents time-series analyses of corporate profitability in seven leading developing countries (DCs) using the common methodology of the persistence of profitability (PP) studies and systematically compares the results with those for advanced countries (ACs). Surprisingly, both short-...

This paper uses a new time series dataset of shareholder protection consisting of 60 annual legal indicators for the period 1970-2005 for France, Germany, the UK and the US. On the basis of these data it examines developments in shareholder protection and reassesses the claims that common-law...

The process of legalization and the role of international soft law in developing international banking supervisory standards are extremely important for assessing the feasibility of establishing effective international rules for banking supervision. This paper analyses the concept of...