The 'shadow banking system' refers to a system of credit-provision occurring outside of the official regulatory perimeter of commercial banks. Facilitated by securitization vehicles, mutual funds, hedge funds, investment banks and mortgage companies, the function and regulation of these shadow...

Throughout the world land use and fragmentation are among the major causes of the de-struction of habitats and the resulting loss of biological diversity. Road use in general and road haulage in particular significantly and still increasingly evoke both causes. Largely due to biodiversity's high...

This paper contributes to the debate on the adequate regulatory treatment of non-bank financial intermediation (NBFI). It proposes an avenue for regulators to keep regulatory arbitrage under control and preserve sufficient space for efficient financial innovation at the same time. We argue for a...