There has been a growing recognition of the importance of transparency for economic growth and social development in oil producing countries. This paper analyzes transparency issues in Cameroon's oil sector. It shows that, while substantial efforts have already been undertaken, continued action...

The paper reviews the background and the existing institutional framework for oil sector development in São Tomé and Príncipe and the challenges faced in implementing transparency rules in all oil-related transactions. It provides a quantitative analysis of the impact of oil sector...

We study herd behavior in a laboratory financial market with financial market professionals. We compare two treatments, one in which the price adjusts to the order flow so that herding should never occur, and one in which event uncertainty makes herding possible. In the first treatment, subjects...

This paper discusses the assessment of observance of Thailand Securities Depository (TSD) of the Committee of Payments and Settlement Systems (CPSS)/International Organization of Securities Commissions (IOSCO) recommendations for securities settlement systems for Thailand. On the basis of the...

This paper discusses the Financial System Stability Assessment for South Africa, and reviews the Report on the Observance of Standards and Codes on Securities Regulation. The assessment reveals that South Africa’s sophisticated financial system is fundamentally sound and has so far...

The Canadian Depository for Securities (CDS) is the operator of the securities settlement system. The design and operations of the CDS are covered by a solid legal basis. The regulatory framework is clear and transparent to market participants. The risk management procedures of the CDS as a...

An update on Saudi Arabia’s Financial System Stability Assessment (FSAP) is presented. Saudi Arabia has confronted the global financial crisis from a position of strength, and took decisive steps to manage the impact of the crisis. As a result, the financial system has weathered the...

This technical note describes the stress testing exercises carried out for the Danish commercial banking system and the insurance sector. The tests were conducted as part of the Financial Sector Assessment Program for Denmark and were developed in collaboration with the Danish Financial...

This paper focuses on a detailed assessment of observance of the Committee on Payment and Settlement Systems (CPSS) core principles for systemically important payment systems in Thailand. This assessment covers the Bank of Thailand Automated High-Value Transfer Network (BAHTNET), which is a...

This report is an assessment of the CPSS-IOSCO Principles for Financial Market Infrastructures (PFMI) in Malaysia. The central bank is in charge of the payment and settlement systems and the Securities Commission (SC) is in charge of regulation and securities. The payment and security systems...