The papers in this volume were commissioned with the aim of exploring the significant structural changes in the financial system over the past decade or so and the implications for policy-makers charged with the responsibility of maintaining financial system stability

Acknowledgements -- Preface -- Introduction "post fata resurgo" : at the origins of modern finance -- Halcyon days -- Half measures -- The impact of oil -- Full measures -- Wuthering heights -- References

Evidence is provided of the effects of international diversification on global asset ownership and control. We show that international geographic diversification in the oil and gas sector comes at an important cost, lower control over foreign oilfield assets relative to domestic assets (and...