The issue of central bank independence (CBI) and its relation to growth and inflation has been a subject of lively debate over the past two decades. Prior empirical work has suggested a relationship between CBI and inflation, with only a tenuous link to growth. In the wake of the global...

For emerging market regulators, shadow banking represents an activity which they must control. For businessmen in economies like Russia, Argentina, Saudi Arabia and Mexico, shadow banking represents an important business opportunity. By extending credit to risky (but promising) activities...

Objectives-based legislation - or laws which focus on achieving particular and concrete outcomes - has become a new and important tool that financial sector regulators use to tackle large and varied financial system risks. Yet, objectives-based legislation - and the frequent principles-based...

Customs-related corruption costs World Customs Organisation (WCO) members at least $2 billion in customs revenue each year. Using recent data only about bribe payers' actual experiences in paying bribes, we show that trade facilitation would only help reduce corruption and improve efficiency -...

Roughly 60% of all publically announced advisors to China's "Going Out" M&A transactions from 2000 to 2014 were from international financial centres (representing over 70% of deal value). Why did advisors, located so far away from both acquirer and target, manage to dominate the M&A advisory...

Roughly 60% of all publically announced advisors to China's "Going Out" M&A transactions from 2000 to 2014 were from international financial centres (representing over 70% of deal value). Why did advisors, located so far away from both acquirer and target, manage to dominate the M&A advisory...

For emerging market regulators, shadow banking represents an activity which they must control. For businessmen in economies like Russia, Argentina, Saudi Arabia and Mexico, shadow banking represents an important business opportunity. By extending credit to risky (but promising) activities...

What role does polyarchy (and thus increased democracy) play in aiding the development of an international financial centre? We find support for decades of theorising that some jurisdictions use autocracy (less polyarchy) to help grow out their financial centres. We look at the growth of these...