The purpose of this lecture is to look beyond the complex events that characterize the global financial and economic crisis, identify the basic mechanisms, and infer the policies needed to resolve the current crisis, as well as the policies needed to reduce the probability of similar events in...

The purpose of this lecture is to look beyond the complex events that characterize the global financial and economic crisis, identify the basic mechanisms, and infer the policies needed to resolve the current crisis, as well as the policies needed to reduce the probability of similar events in...

This article questions whether the effectiveness and stability of East Asian financial systems can benefit from improved access to securitization as a form of market-based financial intermediation. The practical implication would be a greater reliance on public and private securities markets in...