Chapter 1 is joint work with Günter Franke, University of Konstanz, and Markus Herrmann, HSBC London, and addresses the question how collateralized debt obligation (CDO-) transactions are designed. An important issue is the information asymmetry about the quality of securitized debt between...

Faster developing cycles and economic developments created many emerging economies in the 20th century. For sustainable economic growth, however, the construction and constant preservation of a profound knowledge base and technological pool is crucial. Brazil, China, India and Russia,...