AbstractThe following sections are included:IntroductionSummaryStructureLegal Institutions, Finance, and DevelopmentFinance and Economic PerformanceLaw and FinanceThe IssuesEconometric Considerations—IdentificationTheoretical—ChannelsFuture Research: Understanding Heterogeneity and the Role...

AbstractMy remarks are based on the experience in the run-up to the crisis until 2007 and during the crisis since 2008. In my comments I will discuss the following issues: 1. The G20 financial sector reform agenda; 2. Progress made in implementing reforms; 3. Is the financial system safer today?;...

AbstractThe following sections are included:IntroductionComplexity, Comparability, and CredibilityCan Less Be More in Finance?Leverage versus Risk-Based CapitalModelling the Risk of Small Bank DefaultModeling Financial RiskPublic Policy ImplicationsConclusionReferences

AbstractThe following sections are included:Costs of the Financial CrisisEarlier Statements on the Need to End TBTFDefining and Reducing the Impact of TBTFThe Role of Market and Regulatory DisciplineA Proposal for ReformIt’s Not Just Size–Complexity Matters TooConcluding CommentsReferences

AbstractThe following sections are included:Executive SummaryProposalWhy Restricting Activities Is the SolutionEvolution of Current Financial StructureRegulationIncreased CompetitionShadow BankingExpansion of Bank ActivitiesImplications for Financial Structure, Stability, and RiskChanges in...

AbstractThe following sections are included:IntroductionThe Financial Possibility FrontierTaxonomy of Financial Sector ChallengesThe Role of Competition in Financial DeepeningThe Role of Financial InnovationGlobalizationWhat Role for Government?Beyond Policies—All Financial Sector Policy is...