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need for a new framework to regulate financial innovation to foster long-term growth and curb speculation. Regulation ought …
Persistent link: https://www.econbiz.de/10012904840
The governance of infrastructure institutions in the financial markets – namely exchanges, central counter-parties (CCPs), and central securities depositories (CSDs) – has become a matter of significant commercial, regulatory, legislative, and even political concern. Such institutions play a...
Persistent link: https://www.econbiz.de/10013148316
Persistent link: https://www.econbiz.de/10012925355
-based regulation, distinguished by a regulatory approach that is concerned with actively supporting innovators in nurturing cutting …
Persistent link: https://www.econbiz.de/10012427907
This paper focuses on the impact of financial market infrastructures (FMIs) and of their regulation on the post … FMIs regulation. By reviewing the current move from ‘private' markets to ‘public' markets internationally, and with respect …
Persistent link: https://www.econbiz.de/10013033390
After the global financial crisis, systemic risk regulation has taken center stage. Many consider hedge funds a … hedge funds for a case study of emerging transnational regulation. After an introduction to hedge funds and the reasons for … self-regulation, including such induced by the government, regulatory competition between government regulators, and …
Persistent link: https://www.econbiz.de/10013141497
We provide cross-country evidence that rejects the traditional interpretation of the natural resource curse. First, growth depends negatively on volatility of unanticipated output growth independent of initial income, investment, human capital, trade openness, natural resource dependence, and...
Persistent link: https://www.econbiz.de/10013134342
I use the global crisis of 1914 as a window onto the phenomenon of investor reaction to complex news — such as sudden political upheaval. Based on a novel database of all stocks traded on the NYSE during 1914, along with “real-time” news accounts from major newspapers, I show that NYSE...
Persistent link: https://www.econbiz.de/10012978570
Current theories of financial regulation suggest expanding rules-based formal state intervention to promote …-based informal co- and self-regulation through domestic (gentlemen's) agreements underpinned West German bank internationalisation … regulation, drawing on unused primary sources: Coalitions between the German regulating and regulated actors were bolstered by a …
Persistent link: https://www.econbiz.de/10014436557
We put forward a modern version of the 'developmental' view of government-owned banks which shows that the combination of information asymmetries and weak institutions creates scope for such banks to play a growth-promoting role. We present new cross-country evidence consistent with our...
Persistent link: https://www.econbiz.de/10012040740