This paper proposes an integrated and risk-based approach to the sequencing and coordination of reforms to develop … and risk-mitigation measures is proposed to minimize both macroeconomic and financial risks. Capital account opening can …. The paper also argues that domestic institutional investors are critical to market development and risk mitigation. …

We identify different sources of risk as important determinants of banks' corporate structures when expanding into new … markets. Subsidiary-based corporate structures benefit from greater protection against economic risk because of affiliate …-level limited liability, but are more exposed to the risk of capital expropriation than are branches. Thus, branch-based structures …