policy issues for consideration in implementing the NSFR. …

Sound corporate governance is essential for a well-functioning banking system and the integrity of financial markets …. The paper discusses the corporate governance of Italian banks, its regulatory framework, and the specific challenges … improving their corporate governance, more needs to be done. In this regard, further improvements should include: (i …

the general equilibrium effects of capital flows (portfolio investments and loans, FDI) on the governance of domestic … banks. We find that liberalization of capital flows may deteriorate the governance of the domestic financial system by …

This paper proposes a theory to explain why a politician delegates policy tasks to a technocrat in an independent … technocrat who (i) invests more effort into the specialized policy task and (ii) is better insulated from the whims of public … opinion. One natural application of the theory is in the field of monetary policy where the model provides a new theory of …

resource abundance can contribute to growth. It finds that governance determines the extent to which the growth effects of …

-reform period 1992-2003. The findings suggest that a contractionary monetary policy lowers overall debt including bank debt … analysis of responses of firms according to size and leverage largely validates these findings. Two policy implications emerge …

restraint, can underpin growth, although sometimes other elements can also impact. Since better governance is associated with … lower debt, fiscal adjustment should be supported by governance improvements. …