With the recent stock market frauds in markets around the world such as the Madoff case in the U.S. and the recent Satyam fraud in India, no nation can hold its head high and claim to have good corporate governance. The reality is that the problems of fraud, faulty audits, misleading accounts,...

During Myanmar's decade of reforms, financial sector reforms were widely recognized to be a critical underpinning of Myanmar's democratization process, enabling the transition to a more egalitarian, accessible economy. Accordingly, the government developed a program of wide-ranging financial...

"Levy-Yeyati, Martinez Peria, and Schmukler show that systemic risk exerts a significant impact on the behavior of depositors, sometimes overshadowing their responses to standard bank fundamentals. Systemic risk can affect market discipline both regardless of and through bank fundamentals....

Cover -- Contents -- Foreword -- Acknowledgments -- Abbreviations and Glossary -- Overview -- 1 Conceptual Framework, Stylized Facts, and the Role of the Government -- 2 The Use of Long-Term Finance by Firms and Households: Determinants and Impact -- 3 The Use of Markets for Long-Term Finance --...

The exposure of African financial sectors to global risks, including the likely fall-out of the on-going European debt crisis, continues to be limited. African financial sectors have received much recognition for their steady growth performance and resilience during and after the 2008 global...

"In recent years donor countries have committed to dramatic increases in the supply of foreign aid to developing countries. Meeting and sustaining such commitments will require sufficient support among donor country voters and taxpayers. The determinants of public opinion in donor countries on...