"Anderson, Damania, and Jackson develop a common-agency lobbying model to help understand why North America and the European Union have adopted such different policies toward genetically modified (GM) food. Their results show that when firms (in this case farmers) lobby policymakers to influence...

The Mongolian economy has grown very rapidly following the discovery of significant mineral deposits. Large investments in the mining sector have led to increased capital inflows, resulting in cheap external funding for banks and rapid credit expansion. Loans to households increased at the...

In 2010, over 92 percent of the assets in the Nicaraguan financial system were concentrated in the banking sector, while microfinance managed over 5 percent, and all the remaining segments covered less than 3 percent. Starting in the late 1990s and until 2007, the microfinance sector in...

The objectives of the diagnostic review of consumer protection and financial literacy for Armenia are: (i) to assess the existing financial consumer protection framework, by reviewing laws, regulations and practices in Armenia compared to international good practices; and (ii) to provide...

"The technological dependency of securities exchanges on internet-based (IP) platforms has dramatically increased the industry's exposure to reputation, market, and operational risks. In addition, the convergence of several innovations in the market are adding stress to these systems. These...

Madagascar is an island nation located in the Indian Ocean off the south-eastern coast of Africa, and the fourth-largest island in the world. Despite the country's extensive economic opportunities and expansive natural resources, real GDP per capita is one of the lowest in the world. This...

This note examines the implications of digital innovation for market structure and attendant policies, including financial and competition regulation. There have been several surveys of regulatory responses. This note takes a step back, to look at what the economic theory of banking and...