The financial crisis of 2008 is unprecedented and has led to a completely new situation in the monetary and financial integration of the EU. Some member states of the EU are threatened by bankruptcy which could also risk the achievements of monetary integration and the strong stability...

On the subject of financial globalization a lot of literature has been written, annalyzing all sorts of effects it had. Still, the changes induced by globalization at the level of the financial markets are not always clear. The veritable flooding of capitals, constantly moving, created a...

This study aims to find whether regulatory measurement of banking risks proposed by the Basel Committee provide a framework that allows an adequate reflection of these risks in banks’ capital requirements. The analysis is carried through the prism of financial crisis that started in 2007 and...

Fiscal policies in the countries of Latin America have evolved within very different institutional landscapes resulting from a long history of financial crises. This article analyzes several of the economic and institutional transformations of the three largest economies of Latin America,...

This paper presents the general mechanisms of the Ponzi game, by highlighting striking experiences in developed and developing countries. Moreover, we focus on the case of Benin which was recently hit by the crisis of illegal investment institutions. Based on the foundations of the Ponzi scheme,...

</titre> The subprime crisis revealed grave deficiencies in the prudential regulation of banks. This crisis underlines the need for strengthening the equity of stockholders for banks. The increase of systemic risk necessitates a macrosupervision that must be complemented by a microsupervision of these...

The political and economic crisis in Europe is often viewed as an indirect consequence of the global financial and economic breakdowns caused by the US "subprime" crisis. European governments themselves tend to underestimate Europe's responsibility for the crisis and seem to prefer to manage the...

The 2008-09 global economic crises have shown that no country is immune to external challenges. When policy controls are missing or not used efficiently, crises can reverse progress even in advanced economies. This unexpected outcome has increased concerns about the ability of governments in...

This note analyzes levels and trends of health expenditures by country, income group, and region in the context of overall government revenue, expenditure, and GDP trends between 1995 and 2010. The study uses available data from the World Health Organization's (WHO) National Health Accounts, the...

Many economists monitored the developments that led to the financial crisis in 2007 and 2008 with concern. The course and depth of the crisis, however, came as a surprise to many. This paper discusses whether there are structural deficits in economic research which prevent a deeper analytical...