There is much speculation regarding a “race for dominance†among financial centers in Asia, arising from the anticipated financial opening up of China. This frame of reference is, to an extent, a predilection that results from a traditional understanding of financial centers as...

This paper analyzes Latin America’s Financial Inclusion Gap, the difference between the average financial inclusion for Latin America and the corresponding average for a set of comparator countries. At the country level, we assess four types of obstacles to financial inclusion: macroeconomic...

This paper contributes to the literature on early warning indicators by applying a Bayesian model averaging approach. Our analysis, based on Austrian data, is carried out in two steps: First, we construct a quarterly financial stress index (AFSI) quantifying the level of stress in the Austrian...

This study applies a novel way of measuring, quantifying and modelling the systemic risk within the financial system. The magnitude of risk spill over effects is gauged by introducing a specific weighting scheme. This approach originally stems from spatial econometrics. The methodology allows...

Ein Finanzsystem, das die Realwirtschaft unterstützt, setzt ein anderes Verständnis von Normen und Werten voraus. Finanzmarktstabilität ist kein privates, sondern ein öffentliches Gut. Das Mitspracherecht in der Bereitstellung von öffentlichen Regelungen zur Stabilität der Finanzmärkte...

The gaming sector has recently been characterized by a process of liberalization and technological innovation, which has increased the number of available products and operators, thus increasing the degree of market competition. On the fiscal side, the effect of these changes has been the...

The European Community legislation, embedded into italian regulation, prescribesminimal information banks should provide clients before entering into a loanagreement. Starting from the reading of the sheets of a sample of italian banks, thenote explores the effects on the calculation of upstream...

Thinking of what a global currency could be or represent - an idea on which the authors have strong public opinions - the question of the central banks’ role and conduct during the last crisis has become not only complex but a changing one. As regards this latest process, we feel that we...

Thinking of what a global currency could be or represent an idea on which the authors have strong public opinions the question of the central banks’ role and conduct during the last crisis has become not only complex but a changing one. As regards this latest process,we feel that we separate...