Since 2010 approximately 40 developing countries and transitional economies imposed interest rate caps. This article analyses the impact of these interest rate caps on microfinance institutions. Introducing the taxonomy of soft, mezzo and hard interest rate caps we take a stance against hard...

French Abstract: Le Foncier jouit d'une gouvernance originale qui peut nous inspirer car il a parfaitement rempli sa mission de financement de l'immobilier. Le fort conflit d'agence entre actionnaires privés et dirigeants nommés par l'Etat est résolu par un conseil d'administration très...

Pre-World War I Belgium was characterized by a strong concentration of power in the hands of a small elite with ties to business, banks, and politics. We find that political and upper class connections were widespread amongst listed firms, especially connections with the ruling political party....

The establishment of a Capital Markets Union (CMU) is a high-priority project of the European Commission. CMU should foster additional non-bank sources of finance, mobilize private savings more efficiently and enhance capital market integration. Although more integration is needed, the...

This is a chapter for a forthcoming volume Oxford Handbook of Financial Regulation (Oxford University Press 2014) (eds. Eilís Ferran, Niamh Moloney, and Jennifer Payne). It provides an overview of EU financial regulation from the first banking directive up until its most recent developments in...

In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a substantial mortgage lender. In fact, ten years...

Although the United States and the European Union were both seriously impacted by the financial crisis of 2007, the resulting policy debates and regulatory responses have differed considerably on the two sides of the Atlantic. In this paper the authors examine the debates on the problem posed by...

This is a chapter for a forthcoming volume Oxford Handbook of Financial Regulation (Oxford University Press 2014) (eds. Eilís Ferran, Niamh Moloney, and Jennifer Payne). It provides an overview of EU financial regulation from the first banking directive up until its most recent developments in...

The establishment of a Capital Markets Union (CMU) is a high-priority project of the European Commission. CMU should foster additional non-bank sources of finance, mobilize private savings more efficiently and enhance capital market integration. Although more integration is needed, the...

Nachdem die europäische Bankenunion 2014 beschlossen wurde, hat Kommissionspräsident Jean-Claude Juncker nun ein neues Projekt vorgeschlagen, das die Finanzmarktintegration in Europa weiter vorantreiben soll: die Kapitalmarktunion. Während sich die Bankenunion auf die Schaffung eines...