The "Trade Policy Review Mechanism" passed within the framework of the Uruguay Round is intended to increase the transparency of national trade policies and to improve adherence to the rules of GATT. The following article offers a first evaluation of the new instrument.

This study provides new evidence of systemic risk contribution in the international mutual fund sector from 2000 - 2011. The empirical analysis tracks the systemic risk of 10,570 mutual funds investing internationally. The main findings suggest that the systemic risk contributions of...