Why are some global financial crises more difficult to recover from and overcome than others? What steps are necessary in ensuring that financial stability and recovery is facilitated? And what kind of environment has the previous financial environment evolved to and what kind of financial...

This paper reviews the impact of policies to address banking sector weaknesses through the first months of 2009. At the time of this assessment, central bank intervention had successfully addressed pressures on bank liquidity, but the underlying financial position of financial institutions,...

We analyze the effect of mandatory financial transparency on corporate tax avoidance. Capital Requirements Directive IV by the European Commission required multinational banks to publish key financial and tax data in the form of public Country-by-Country Reporting. We examine tax avoidance of...