The book aims at perfecting the national governance system and improving national governance ability. It evaluates the balance sheets of the state and residents, non-financial corporations, financial institutions and the central bank, the central government, local government and external sectors...

"We analyze government interventions to alleviate debt overhang among banks. Interventions generate two types of rents. Informational rents arise from opportunistic participation based on private information while macroeconomic rents arise from free riding. Minimizing informational rents is a...

"We analyze contagious sovereign debt crises in financially integrated economies. Under financial integration banks optimally diversify their holdings of sovereign debt in an effort to minimize the costs with respect to an individual country's sovereign debt default. While diversification...