This paper looks at the effects of Basel III on the long-run profitability prospects of banks. It is argued that the new restriction on maturity mismatching and leverage will mitigate the “special” role banks play in the economy. Indeed, it will turn them into over-regulated public utilities...

As every commercial banker, savings banker and credit union officer knows Basel III will be phased in over the 2015-2019 period. These regulations will affect not only Spanish banks but banks from over 100 countries worldwide -- in large part because of IMF and World Bank “conditionality”...

"Privatization of state-owned enterprises and liberalization of trade and investment flows were two of the cornerstones of the structural reforms implemented by governments across Latin America in the 1990s. Spanish multinational enterprises were attracted by these reforms into industries such...