The focus of this contribution is on financial stability and the extent to which proposed regulatory frameworks deal effectively to avoid financial instability. While microprudential financial stability has been in place prior to and since the Global Financial Crisis (GFC), macroprudential...

In 2002 more than $1 trillion worth of new bonds was sold across international boundaries. The total stock of cross-border bond holdings was more than $9 trillion. Such lending, together with sales of equities, is regarded as one of the chief benefits of globalization. But financial investment...