Depuis l'éclatement de la crise des subprimes en aout 2007, les autorités de tutelle ont accordé une attention toute particulière au rôle joué par les intermédiaires financiers dans les canaux de propagation des chocs récessifs sur l'économie réelle. L'objectif de cet article est...

We examine whether global or local events are important drivers in causing major shifts and excessive volatility in Islamic indexes than in conventional indexes. We apply an iterative cumulative sum of squares (ICSS) algorithm to identify structural breaks in the volatility of several major Dow...

The spectacular failure of the 150-year old investment bank Lehman Brothers on September 15th, 2008 was a major turning point in the global financial crisis that broke out in the summer 2007. Through the use of stock market data and Credit Default Swap (CDS) spreads, this paper examines the...

The philosophy behind the debt market discipline approach to banking regulation presumes that the pricing of bank debt securities, if accurate, conveys reliable signals to supervisors. In this paper, we take a critical look at the feasibility of such an approach by exploring empirically the...

The article reviews the economic performance of the main emerging countries before and throughout the global economic and financial crisis as well as some projections regarding their economic performance in future. It argues that the rising powers’ likely impact upon the future global economic...

[eng] Sub-debt, market discipline, and regulatory reform . The proposals regarding the reform of banking regulation equally include elements of market discipline that are naturally added to the traditional instruments. More precisely, a policy by which some large banks are forced to regularly...

We investigate the link between the regulation of control transactions and the institutional and corporate features of public companies, by analyzing the massive delisting activity in the Romanian capital market. The peculiar ownership reforms involving a large number of listed companies offer a...