This paper evaluates Azerbaijan’s 2003 Article IV Consultation, Second Review Under the Poverty Reduction and Growth Facility (PRGF), and Requests for Waivers of Performance Criteria, Extension of Arrangement and Rephasing of Purchases. Performance relative to the quantitative targets...

A review of the experience of five developing countries in reforming their financial systems illustrates the benefits and risks, and provides lessons on the factors which contribute to successful financial sector reforms. Financial sector reforms need to be supported by active monetary policy,...

This paper discusses key findings of the detailed assessment of observance of financial sector standards and codes in Switzerland. Switzerland has a relatively unique banking sector, with a high market concentration by the two largest domestic banks. The overall assessment of the peer-review...

Die Diskussion um die Aufspaltung der Universalbanken ist wieder neu entflammt. Kann die Trennung von Geschäfts- und Investmentbanken zu größerer Stabilität auf den Finanzmärkten führen? Nach Ansicht von Karl Socher, Universität Innsbruck, hat die Zulassung von Universalbanken die...

The paper analyzes the risk disclosure quality in the prospectus of IPOs in Germany between 2006 and 2008. Quality of risk information is measured as precision and comprehensibility. The relationship between risk disclosure quality and earnings power is tested.

This paper reviews economic developments in the Republic of Belarus during 1994–96. After several years of efforts at structural reform and stabilization during which little progress was made, following presidential elections in mid-1994, the authorities adopted a wide-ranging adjustment...

We examine the role of bank balance sheet strength in the transmission of financial sector shocks to the real economy. Using data from the syndicated loan market, we exploit variation in banks’ reliance on wholesale funding and their structural liquidity positions in 2007Q2 to estimate the...

Przedmiotem opracowania jest cykliczność rynku mieszkaniowego w Polsce i wyjaśnienie faktu, Ŝe przebieg cyklu mieszkaniowego nie doprowadził anido znacznej recesji na rynku mieszkaniowym, ani do złamania stabilnosci systemu bankowego. Tłem teoretycznym rozwaŜańjest mechanizm cyklu...

In this paper, we provide an overview of the concerns surrounding the variations in the calculation of risk-weighted assets (RWAs) across banks and jurisdictions and how this might undermine the Basel III capital adequacy framework. We discuss the key drivers behind the differences in these...