The economic crisis triggered by the COVID-19 outbreak has severely affected the global economy. The ultimate scale of the recession is yet to be determined, but it is likely to be the most dramatic slump sinceWorldWar II. The impact of the crisis on the financial sector, especially consumer...

The temptation for more protectionism has to be resisted. National reactions that try to hinder international capital flows or prevent foreign activities from being carried out in an efficient and fair manner weill reduce the benefits that the international economic cooperation has brought to...

Why was risk management not effective in preventing financial institutions from bubbles in the past? 1. Because the emerge of the bubbles were not recognized at all. 2. Because risk managers did not have sufficient authority to stop the nonsense....

background; financial services and regulation; trade agreements and the regulatory interface; current crisis and its implications; potential lessons for reform...

Trade in Financial Services:• Highly regulated sector• Sector opened in last quarter of 20thcentury• Some sub-sectors operate on aglobal basis• Market share of foreign-ownedinsurance companies in Europe 41%,Latin America 47% and Asia 12%...

The subprime crisis which hit the United States in summer 2007 and morphed into a full blow global financial upheaval in autumn 2008 has taken a heavy toll on the insurance industry. Some industry players with significant financial markets and banking operations were seriously damaged by the...