Since the development of modern banking in Italian renaissance, financial crises have from time to time affected institutions and markets and have raised concern about stability of financial systems. Authorities and scholars around the world are investigating the matter discussing on the...

The global financial crisis has magnified the role of Financial Sector Surveillance (FSS) in the Fund's activities. This paper surveys the various steps and initiatives through which the Fund has increasingly deepened its involvement in FSS. Overall, this process can be characterized by a...

There is quite a bit of confusion in the policy circles, in the academic circles and also in the markets regarding the international economic situation unleashed by the 2007-2008 crisis. And, as there is so much confusion, the economic policy responses have been largely inconsistent, not only in...

The paper aims to exhibit the impacts of the international financial crisis on the real economy of Saudi Arabia through economic and financial channels, which connect the Saudi economy to the world economy. Based on the mechanism of international liquidity and its relationship to the net-exports...

To what extent was the Great Financial Crisis of 2007-2009 similar to previous crises, and what were the main causes behind it? The purpose of this paper is to explore these questions, presenting the traditional pattern followed by financial crises in the past, a chronology of the recent crisis,...

In the first era of financial globalization (1880-1914), global capital market integration led to substantial net capital movements from rich to poor economies. The historical experience stands in contrast to the contemporary globalization where gross capital mobility is equally high, but did...

In the first era of financial globalization (1880-1914), global capital market integration led to substantial net capital movements from rich to poor economies. The historical experience stands in contrast to the contemporary globalization where gross capital mobility is equally high, but did...

European Union (EU) countries offer a unique experience of financial regulatory and supervisory integration, complementing various other European integration efforts following the Second World War. Financial regulatory and supervisory integration was a very slow process before 2008, despite...

European Union countries offer a unique experience of financial regulatory and supervisory integration, complementing various other European integration efforts following the second world war. Financial regulatory and supervisory integration was a very slow process before 2008, despite...