This paper is based on the author's comments before the Group of 15 (G15) Conference "Cooperation among G15 Stock Market Exchanges - G15 Capital Markets: Challenges & Opportunities in the New World". The conference was hosted by the Ministry of Foreign Affairs in Egypt, and sponsored and...

We investigate the effect of a stock market liberalization on industry growth in emerging markets. Consistent with the view that liberalization reduces financing constraints, we find that industries that are more externally dependent and face better growth opportunities grew faster following...

As the 2008 financial crisis spread globally, it became widely apparent that an essential ingredient to preventing future systemic crises was reform of the regulation of financial markets. Two ambitious initiatives for regulatory reform are the European Union's European System of Financial...

Global Recession to Global Recovery: It is well known fact that all good things, as also bad things, come to an end and business cycles pass through good and bad economic times. Economically 2010 was a year of transition from economic recession to recovery. Economies were improving in some...

The first global blockchain benchmarking study presents a systematic and comprehensive picture of a rapidly evolving industry, examining how blockchain and distributed ledger technology (DLT) are being used in the public sector and enterprise. The study analysed non-publicly available data...

On 23rd February 2017, SUERF and EY organized a conference on "Brexit and the Implications for Financial Services" at EY's offices, Churchill Place, Canary Wharf, London. While the outcome of the Brexit negotiations remains highly uncertain, the conference discussed the burning questions for...

The last weeks of 2018 have set new records in net new institutional investment flows into infrastructure funds, with more generalist private equity and investment management players joining this strategic asset class par excellence, as the trend is likely to continue well into 2019 – 2020.The...

The sixth annual World Pensions Forum was held on 23-24 February 2017 at the Queen's House in the Royal Borough of Greenwich.Over 120 representatives attended: from pension and sovereign funds, central banks and government agencies including financial regulators. Topics discussed included...

This paper builds a dataset on bank ownership that covers more than 6,500 banks in 181 countries (59 low-income economies, 72 middle-income economies, and 50 high-income economies) over 1995-2020. I show that until 2010, there was a reduction in state-ownership of banks and an increase foreign...

Asian crisis in the late 1990s exposed the inherent deficiencies of Basel I, and exactly a decade later the 2008 global credit mayhem clearly proved that the Revised Framework (Basel II) and the IMF's Financial Sector Assessment Program contributed to instability rather than averting...