Infrastructure plays a key role in fostering growth and productivity and has been linked to improved earnings, health, and education levels for the poor. Yet Latin America and the Caribbean are currently faced with a dangerous combination of relatively low public and private infrastructure...

International accounting standards constitute a typical instrument of harmonization and eventually integration of the Latin American and Caribbean financial markets. This book focuses primarily on accounting standards for large companies in some cases traded in stock exchanges.

The global financial crisis revealed the fragility of the global fnancial framework under the current Basel agreements and provided an impetus not only for curtailing the risky activity of banks but also for rethinking what affects the stability of the global fnancial system. The recent Basel...

In this paper, we study the optimal mix of monetary and macroprudential policies in an estimated two-country model of the euro area. The model includes real, nominal and financial frictions, and hence both monetary and macroprudential policy can play a role. We find that the introduction of a...

Welfare economics, scope and performance of government, externalities, public goods, cost-benefit analysis, subsidies economize on spending without losing effectiveness by modifying the conceptual framework guiding state expenditures. The familiar framework says that state intervention is...

This study assesses the overall impact on credit of the financial regulatory reforms in Europe, Japan, and the United States. Long-term cost estimates are provided for Basel III capital and liquidity requirements, derivatives reforms, and higher taxes and fees. Overall, average lending rates in...

The paper examines the implementation of macro-prudential policy. Given the coordination, flow of information, analysis, and communication required, macro-prudential frameworks will have weaknesses that make it hard to implement policy. And dealing with the political economy is also likely to be...

In Pakistan, on-demand availability of groundwater has transformed the concept of low and uncertain crop yields into more assured crop production. Increased crop yields has resulted in food security and improved rural livelihoods. However, this growth has also led to problems of overdraft,...

This paper presents a comparative analysis of three American (Enron, WorldCom and HealthSouth) and three European (Parmalat, Royal Ahold and Vivendi Universal) corporate failures. The first part of the analysis is based on a theoretical framework including six areas of ethical climate; tone at...

This chapter aims to address influence of regulatory framework and exchange rate regimes on financial stability in the Western Balkan countries by respecting that nowadays international capital flows are very important in determining the exchange rate regimes and financial stability especially...