The recent global financial crisis has put the spotlight on macro-prudential policies to protect firms and households from problems emanating from the financial sector. This paper proposes an analytical framework that combines exogenous and endogenous risks, the latter seen as stemming from...

This paper explores whether the level of financial integration of banks in a country increases the incidence of systemic banking crises. The paper uses a de facto proxy for financial integration based on network statistics of banks participating in the global market of interbank syndicated...

Latin America is growing fast and fundamentals look healthier. Are these achievements here to stay? Strong commodity prices may not last forever and a US recession could have major repercussions in the region. Should countries prepare now for tomorrow's crisis? What is the top-ten list on the...