Following the financial fragility approach of H. Minsky and its later extension by J. Kregel, the paper addresses some basic aspects of the dynamics and management offoreign debt in the perspective of the emerging countries. Minsky's definitions of hedge, speculative and Ponzi positions are...

Placing Basel II in the perspective of the more general trend in financial regulation, the paper analyses its efficacy and efficiency as a device to foster financial resiliency. In assessing the criticisms levelled against the New Accord, special attention is devoted to the case of the emerging...

According to Mario Tonveronachi, the Basle rules produce distortions that are no less serious than those attributed to the former structural regulation. Excessive competition is no less harmful than low competition, the level playing field approach helps the large dimension and Òtoo big to...