The volatility of financial markets has attracted a lot of attention in recent years. However, while particular episodes, such as the bond market turbulence in 1994 and considerable exchange rate movements in 1995, may give the impression that markets have become more volatile, there appears to...

What are the borrowing strategies and practices of European members of the Council for Mutual Economic Assistance (CMEA)? The authors had extensive discussions with bankers in the leading financial centres in Europe. Some of their findings are presented in the following article.

Capital markets in developing countries are under increasing political pressure. What solutions are likely to the conflicts and problems that arise over the need to integrate them into exploiting the resources, and fulfilling the needs, of a developing economy as a whole?

The pre-crisis paradigm focused exclusively on the positive role of finance. The new paradigm takes the other side of finance seriously and arrives at distinctly different trade-offs and regulatory approaches.

Brexit is not only a historical chapter of the British — EU relationship, but it also carries immense challenges for fi nancial market stability in the short and medium run for the 28 member states of the European Union. The scale of these challenges depends heavily on the outcome of EU-UK...