Global allocation of capital and fluctuations in asset prices are increasingly influenced by the activities of Sovereign wealth funds (SWFs). The Santiago Principles called for higher transparency, stressing that SWFs should exhibit clearer governance standards and sound portfolio management...

Der deutsche Bankensektor ist im Umbruch. Von den Folgen der internationalen Finanzkrise, die ihren Ausgang auf dem US-Immobilienmarkt genommen hat, geht ein erheblicher Druck zu Reformen aus, weil gerade in solchen Situationen die besonderen Baustellen der nationalen Bankensysteme sichtbar...

Der deutsche Bankensektor ist im Umbruch. Von den Folgen der internationalen Finanzkrise, die ihren Ausgang auf dem US-Immobilienmarkt genommen hat, geht ein erheblicher Druck zu Reformen aus, weil gerade in solchen Situationen die besonderen Baustellen der nationalen Bankensysteme sichtbar...

This paper discusses the role of state intervention for prevention, containment, and resolution of financial crises based mainly on the Korean experience during the 1997 Asian financial crisis. Crises in emerging market and developing economies tend to be more complicated than those faced by...

A book chapter providing an overview of select aspects of legal and regulatory issues affecting Islamic capital markets. The categories of issues discussed are (ad) securities laws and regulatory regimes, (b) securitization laws, including laws and regulations applicable to sukuk, and legal...

The strengthening of regulatory requirements, along with evolution in banking regulations, can have a negative impact on the external bank financing of emerging countries heavily dependent on this type of financing. Indeed, several studies have aroused fears about the potential effects of...

The 1994 Mexican banking crisis led to wholesale changes in the deposit insurance fund in the country's banking system. Poor lending decisions allowed banks to transfer risk to the fund, resulting in their capturing returns on performing loans, while limiting downside exposure when the fund...

We use firm-level data for France and Italy to explore the impact of service regulation reform implemented in the two countries on the mark-up and eventually on the performance of firms between the second half of the 1990s and 2007. We find that the relation between entry barriers and...

In this paper, we measure the extent and dissemination of the retreat of the state from entrepreneurial activities in 20 OECD countries during the 1980–2007 period using a three-dimensional concept and a new dataset, the REST database. We consider privatization, deregulation in network-based...

Purpose – The purpose of this paper is to investigate convergence or divergence trends at global scale. Design/methodology/approach – The paper questions the methodology and findings of the conventional convergence literature using linear OLS models. It introduces polynomial (quadratic)...