The insurance industry could potentially play a greater constructive role in mitigating climate risk by aligning with entities that scrupulously incorporate environmental, social, and governance (ESG) aspects in their business philosophy

Climate risk impacts the insurance industry on both sides of the balance sheets. On the one hand, rising weather-related claims are affecting the liability side. At the same time, there is an increasing expectation from investors, shareholders, customers and other stakeholders for insurers to...

This paper analyses the recent global financial crisis in the context of the dual processes of market development and regulation. It discusses how, in the absence of a globally integrated financial framework, past and present regulations and interventions in reaction to national and global...

We are currently in the second wave of globalisation. Despite the fact that over the past two decades a number of national financial and other barriers have been removed, there are still a number of national, regional and global factors that are slowing down the process of financial...

This paper analyses the recent global financial crisis in the context of the dual processes of market development and regulation. It discusses how, in the absence of a globally integrated financial framework, past and present regulations and interventions in reaction to national and global...

During the last decade, derivatives markets became an asset class of their own and influenced the financial landscape strongly. While the financial sector contributes positively to overall growth in many studies up the mid nineties, a positive contribution of the financial sector to economic...

Banking systems are fragile not only within one country but also within and across regions. We study the role of regional banking system characteristics for regional banking system fragility in Asia, Europe, Latin America and the US. We find that regional banking system fragility reduces when...

While the sukuk market was not spared by the recent global financial crisis, its track record in preceding years has been quite unique. Indeed, between 2001 and 2007, the growth rates experienced in the Islamic Finance industry and the sukuk industry in particular have been impressive. From 2005...

Spain´s sovereign crisis has many sides and causes. An unviable economic model and an insolvent financial sector generated a private sector crisis that rapidly spread to the Government´s balance sheet. The public sector itself had –and continues to have- its own serious dysfunctions. One of...

We examine the spillover effects of the Global Analyst Research Settlement (or Global Settlement) on analysts' earnings forecasts in 40 developed and emerging markets. Prior to the Global Settlement, analysts generally made overly optimistic forecasts, this bias tending to be higher in countries...