Financial globalization and East Asian capitalism : an overview / Jongryn Mo, Daniel I. Okimoto -- The politics of reform in Japanese finance : assessing the relative influence of foreign investors / Jennifer Amyx -- Policymaking in the era of financial globalization : the battle for Japanese...

How does asset encumbrance affect the fragility of intermediaries subject to rollover risk? We offer a model in which a bank issues covered bonds backed by a pool of assets that is bankruptcy remote and replenished following losses. Encumbering assets allows a bank to raise cheap secured debt...

Since the summer of 2007, participants in financial markets have been confronted by a crisis of their own making. In order to prevent the recurrence of a similar crisis in the future, the G-20 nations, at their finance summit in Washington on 15 November 2008, resolved to "ensure that all...