Hedge funds have attracted increased attention in recent years. In part, this is because investment in hedge funds is becoming “mainstream”. A wider range of investors has sought exposure to these investment vehicles, and this has been associated with rapid growth in both the number of funds...

Stability in financial institutions and in financial markets are closely intertwined. Banks and other financial institutions need liquid markets through which to conduct risk management. And markets need the back-up liquidity lines provided by financial institutions. Market liquidity depends not...

This paper examines the effects of foreigndirect investment (FDI) inflows to a group of six Pacific Basin economies and a control group of 11 other developing countries.

This paper focuses on some of the practical issues involved in developing voluntary domestic markets for government debt.

The main problem that this paper addresses is that the people's bank of China and China's state-owned banks have undertaken and continue to undertake large quasi-fiscal activities. Transfers from the Chinese banking system in the form of interest subsidies and loan default averaged over 5% of...

The main reasons for government intervention into the untarmmelled workingof free markets, laisser-faire, have been established for many years; these are: (a)control and limitation of monopoly power. (b)consumer protection. (c)externalities.