This paper provides an empirical explanation to the observed disparity in cross-border M&A inflows to developing and developed countries over the last two decades. We show two main results. First, the disparity can be attributed to the difference in the quality of institutions between the two...

Developing economies are seeking to promote financial inclusion, i.e., greater access to financial services for low-income households and firms, as part of their overall strategies for economic and financial development. This raises the question of whether financial stability and financial...

Developing economies are seeking to promote financial inclusion, i.e., greater access to financial services for low-income households and firms, as part of their overall strategies for economic and financial development. This raises the question of whether financial stability and financial...

This paper discusses the financial landscape of the Association of Southeast Asian Nations (ASEAN), a region engaged in building an economic community (a “single market and production baseâ€) by 2015. In particular, it reviews where ASEAN’s financial markets and...

This paper focuses on the relevance to emerging economies of three major financial reforms following the global financial crisis of 2007–2009 : (1) the improved capital requirements intended to reduce the risk of bank failure (“Basel IIIâ€), (2) the improved recovery and...

This paper discusses the financial landscape of the Association of Southeast Asian Nations (ASEAN), a region engaged in building an economic community (a “single market and production baseâ€) by 2015. In particular, it reviews where ASEAN’s financial markets and...

This paper discusses the financial landscape of the Association of Southeast Asian Nations (ASEAN), a region engaged in building an economic community (a “single market and production baseâ€) by 2015. In particular, it reviews where ASEAN’s financial markets and...

This paper focuses on the relevance to emerging economies of three major financial reforms following the global financial crisis of 2007–2009 : (1) the improved capital requirements intended to reduce the risk of bank failure (“Basel IIIâ€), (2) the improved recovery and...

This paper discusses the role of state intervention for prevention, containment, and resolution of financial crises based mainly on the Korean experience during the 1997 Asian financial crisis. Crises in emerging market and developing economies tend to be more complicated than those faced by...

This paper looks at the issue of reforming financial regulatory structures from the New Institutional Economics perspective. In particular, it examines how the broader institutional environment prevailing in developing countries like the Philippines may affect the institutional arrangements for...