This study emphasizes three solid questions: (i) the extent to which African banking systems are globalized; (ii) the role of regulation and technology in this process; and (iii) whether economic globalization reinforces banking stability. We conceptualize financial globalization through two...

Despite growing awareness, the global regulation of facial recognition technology (FRT) remains fragmented, much like the governance of Artificial Intelligence (AI). International initiatives from the United Nations (UN), Organisation for Economic Co-operation and Development (OECD), and World...

This paper examines whether and how national audits affect local fiscal transparency in China. Using panel data from 30 provinces between 2009 and 2018, we find that national audits significantly improve local fiscal transparency after controlling for various economic and institutional factors....

In a model of asymmetric regulation, a firm can comply with two regulatory targets, and a regulator can audit the firm for compliance. Inspection by the regulator is imperfect, and it assesses the firm’s compliance with the targets with different success probabilities. The firm fully complies...

Change ownership reforms for electric cooperatives (ECs) have once again attracted policymakers' interest due to current e!orts in expediting their privatization. This note serves as input to this ongoing conversation using the lens of competition. We argue that unchecked consolidation -...

In managing their capital, banks balance the risk of breaching regulatory requirements against the cost of maintaining and speedily restoring "management" buffers. Using 68 quarters of data on 17 US and 17 euro-area banks, we find systematic reductions in steady-state management buffer targets...