Text presented at the 19ª Asamblea Anual del Grupo Regional de América Latina y el Caribe (GRULAC), of the World Savings Banks Institute, La Habana, Cuba, 4-5 November 2013. It mentions some of the more recent international reform initiatives in particular those linked to the Basel Committee...

This paper examines the implications of the global financial crisis of 2007-10 for reform of the global financial architecture, in particular the International Monetary Fund and the Financial Stability Board and their interaction. These two institutions are not fully comparable, but they must...

We explore the factors that shape the extent and scope of the response of G20 countries to a Financial Stability Board (FSB) recommendation aimed at mitigating the risks from financial innovation. Using a formal content analysis of the FSBÕs Implementation Monitoring Network Surveys, we develop...

Weak institutions are shown to create scope for public banks to play a growth-promoting role, even if such banks are less efficient than private banks.

We put forward a modern version of the 'developmental' view of government-owned banks which shows that the combination of information asymmetries and weak institutions creates scope for such banks to play a growth-promoting role. We present new cross-country evidence consistent with our...

After September 2001, the war against the financing of both terrorism and organized crime occupies the centre of the policy makers' agenda. This paper has a threefold objective. To better evaluate the design of the regulation and the supervision strategy, it reviews the economics of the...

Weak institutions are shown to create scope for public banks to play a positive role, even if such banks are less efficient than private banks.

We put forward a modern version of the ‘developmental’ view of government-owned banks which shows that the combination of information asymmetries and weak institutions creates scope for such banks to play a growth-promoting role. We present new cross-country evidence consistent with our...

Staatliche Banken können eine wichtige Rolle bei der Sicherung der Funktionsfähigkeit von Finanzsystemen und für die gesamtwirtschaftliche Entwicklung spielen. Dies gilt offenbar vor allem dann, wenn die Bankenregulierung schwach ist und Banken nicht ausreichend überwacht werden. Die...