Brexit is not only a historical chapter of the British — EU relationship, but it also carries immense challenges for fi nancial market stability in the short and medium run for the 28 member states of the European Union. The scale of these challenges depends heavily on the outcome of EU-UK...

As the flow of financial aid from the industrial countries may be expected to shrink rapidly as a consequence of their economic difficulties, the developing countries will have to find out possibilities of using their own financial resources more effectively. In this connection the task of...

The financing of long-term growth in developing countries has become more of a problem every year. In the following article one particular new financial instrument — Growth Participation Units — is discussed as a particular way to attract private sector long-term financing of development.

Digital technologies have the potential to modernise the economy. But digital innovations are disruptive. Therefore, policies need to be comprehensive and go beyond the support of the ICT sector as well as address a variety of issues: increasing returns to the use of data, heterogeneity of the...

During a financial crisis, pressure on Central banks to act as a lender of last resort (LLR) and to offer emergency liquidity assistance to troubled banks increases. The European Central Bank, however, has announced that it does not regard it as its principal task to provide emergency liquidity...

The long-held truism that finance is always good for growth has been called into question by the global financial crisis. This article examines new evidence on the finance-growth nexus from a European perspective. More specifically, it compares the approach of many CESEE countries - i.e....