This paper examines the domestic politics of financial internationalization. Financial internationalization has two components, the liberalization of <italic>cross-border capital flows</italic> and the liberalization of <italic>foreign ownership restrictions</italic>, yet most research to date has concentrated exclusively on the...

This paper examines how political business relations have shaped country vulnerability to financial crises during periods of international financial contagion. While close relations between political and business elites in island Southeast Asia deepened vulnerability during the Asian Financial...

The global spread of Islamic finance has transformed the financial systems of many Muslim countries, but analysts know little about the factors that shape individuals’ demand for Islamic finance. This paper examines the socioeconomic origins of consumer demand for Islamic financial products,...

Across the social sciences, lagged explanatory variables are a common strategy to confront challenges to causal identification using observational data. We show that "lag identification"--the use of lagged explanatory variables to solve endogeneity problems--is an illusion: lagging independent...

type="main" xml:id="ecpo12042-abs-0001" <p>This paper studies the effects of economic governance and political institutions on portfolio investment during the Global Economic Crisis of 2008–2009. Leveraging a unique cross-national dataset on portfolio flows immediately following the collapse of...</p>

Who is watching the financial services industry? Since 1980, there have been multiple waves of thought about whether the ministry of finance, the central bank, a specialized regulator or some combination of these should have supervisory authority. These waves have been associated with the...

â?¢ At least 12 European Union member states used publicly created asset management companies (AMCs), otherwise known as a â??badbanksâ?? to respond to the recent financial crisis. This tool remains an option for future bank resolutions under the EU Bank Recovery and Resolution Directive....

Bank supervisors should provide publicly accessible, timely and consistent data on the banks under their jurisdiction. Such transparency increases democratic accountability and leads to greater market efficiency. There is greater supervisory transparency in the United States compared to the...