I study the first modern global banking crisis that began in London in 1866 and provide causal evidence that financial sector disruptions can reshape international trade patterns for decades. Using newly collected archival loan records that link banks to their operations abroad, I estimate that...

This paper intends to approach the financial market regulation and its prospects of evolution. It will first identify the meaning of financial regulation from a global approach. Then, it will discuss the cornerstones of regulation and its main characteristics, including regulatory organizations....

This paper argues that the decline in cross-border banking since 2007 does not amount to a broad-based retreat in international lending ("financial deglobalisation"). We show that BIS international banking data organised by the nationality of ownership ("consolidated view") provide a clearer...