The stunning failure of a number of banks during the recent crisis has put regulatory intervention high on the agenda of governments. Adequate risk monitoring, including by credit rating agencies, measurement, and management have proven to be a daunting task, whereas regulation of innovative...

In the last twenty years, the financial risk management has gained an important role for the companies and financial institutions. Financial innovations have improved the efficiency of risk management process, but at the same time, they have imposed new challenges for market participants and...

The recent financial crisis, that has left its mark on the global economy, highlighted the problems of ensuring the stability of the banking sector. At the end of 2010 year, G20 meeting has determined the need of approval of new standards of banking regulation and international settlement named...

We propose a novel theory of financial contagion. We study global coordination games of regime change in two regions with an initially uncertain correlation of regional fundamentals. A crisis in region 1 is a wake-up call to investors in region 2 that induces a reassessment of local...

Using a new data set, we examine the characteristics and dynamics of cross-border mergers and acquisitions during emerging-market financial crises, that is, so-called fire-sale FDI. Our findings shed fresh light on whether the transactions undertaken during crisis periods differ in fundamental...

Using a new data set, we examine the characteristics and dynamics of cross-border mergers and acquisitions during emerging-market financial crises, that is, so-called "fire-sale FDI". Our findings shed fresh light on whether the transactions undertaken during crisis periods differ in fundamental...

We propose a novel theory of financial contagion. We study global coordination games of regime change in two regions with an initially uncertain correlation of regional fundamentals. A crisis in region 1 is a wake-up call to investors in region 2 that induces a reassessment of local...

This article is structured as follows: the first section is based on Reinhart and Rogoff’s seminal papers (Am Econ Rev 98(2):339–344, 2008a, b, Am Econ Rev 99(2):466–472, 2009a, This time is different: eight centuries of financial folly, Princeton University Press, Princeton, 2009b, Am...

If politicians and economists who have so much lavished to “open” China to the Western Area should only had paid more attention to the historical and economic analysis brought to completion by scholars such as Carlo Maria Cipolla, Fernand Braudel, Immanuel Wallerstein and others, most likely...

If politicians and economists who have so much lavished to “open” China to the Western Area should only had paid more attention to the historical and economic analysis brought to completion by scholars such as Carlo Maria Cipolla, Fernand Braudel, Immanuel Wallerstein and others, most likely...