This paper focuses on the need for a lex specialis for resolution of insolvent banks and other financial institutions serving similar functions, and on requirements for making resolution procedures effective. After a review of the objectives of general insolvency law and the special...

China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...

The emerging economic and financial globalization in recent years has been much more rapid that our understanding of all ingredients associated with this phenomenon of globalization. As a result, the impact that the current crisis may have on the global economy is still uncertain, since an...

This paper assesses whether and how financial development triggers the occurrence of banking crises. It builds on a database that includes financial development as well as financial access, depth and efficiency for almost 100 countries. Through estimation of a dynamic logit panel model, it...

This paper focuses on the following two issues. First, the paper investigates the extent to which financial development has contributed to economic growth in China. For this purpose, we utilize well-known financial development indicators and seek to find a long-run relationship between output...

The article analyzes the influence capital inflow, financial development, economic liberalization, and democratization on social capital development. Findings show that the impact of FDI on social capital growth differs from that emanating from portfolio investment, returning negative and...

The finance sector is the lifeblood of any economy and its smooth functioning is central to rapid and inclusive economic growth. A well-functioning financial system must intermediate efficiently between savers and borrowers; manage risks prudently; provide a wide variety of financial services to...

1. Introduction - Not Managed at All: How the Idea for this Book Occurred and What it is About -- 2. The Medici and Renaissance Complexity: How the Challenges of Renaissance Banking Finally Defeated the First Multinational Bank -- 3. Rothschild, the Largest Bank in the World: How Multinational...