It was everyone's worst nightmare; the spectre of systemic collapse. And this time, everyone was in it together. The complexity of modern financial instruments was one obvious culprit. Centuries old legal principles, such as the notion of "insurable interest", were also cast aside; old fashioned...

What are the determinants of public attitudes toward the European Union? What causes state publics to reject its influence? We argue that financialization, an understudied phenomenon in relevant literatures, is an important driver of public opinion of the EU. We develop and test a theoretical...

This paper examines how the different forms of development finance for low-income countries are likely to be affected by the global financial crisis, principally through reductions in remittances, aid flows and FDI. It argues that the channels of transmission of the crisis for particular...

This paper attempts to borrow the tradition of estimating policy reaction functions in monetary policy literature and apply it to capital controls policy literature. Using a novel weekly dataset on capital controls policy actions in 21 emerging economies over the period 1 January 2001 to 31...

The strong and volatile rebound of capital inflows, mostly portfolio investments, into emerging economies in the recovery process of the 2008 global financial crisis has brought the issue of capital controls to the forefront once again. The presence of global imbalances and unconventional...

This policy essay, written as a UN Economic and Social Commission for Asia and the Pacific (ESCAP) Working Paper, reflects on the social factors underlying Pakistan's chronic debt crises, their resolution, and potential paths to future prevention. It stresses the need for a debtors' perspective...