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efficiently with cross-border issues. To track and control insolvency risk within and across any set of countries, officials must …
Persistent link: https://www.econbiz.de/10012466806
As financial institutions and markets transact more and more cross-border business, gaps and flaws in national safety nets become more consequential. Because citizens of host (home) countries may be made to pay for mistakes made in the home (host) country, Basel's lead-regulator paradigm...
Persistent link: https://www.econbiz.de/10012466813
This paper analyzes the methods of loss concealment used by rogue traders in the Barings and Daiwa scandals. The analysis clarifies how and why these firms' top managers and home-country regulators deserve blame for allowing cumulative losses to become so large. The central point is that...
Persistent link: https://www.econbiz.de/10012471988
This paper supplies an agency-cost and contestable-markets perspective on the financial policies that triggered the Asian financial crisis. The agency-cost analysis hypothesizes that individual-country regulators knew that politically directed loans had made their banks insolvent, but...
Persistent link: https://www.econbiz.de/10012471262