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Financial development : a broader perspective

Reid, Richard - 2010

This paper seeks to add to the current debate about financial development and growth in the emerging world by looking … may be more fruitful for today's emerging world to concentrate more on addressing the needs of savers and borrowers in … each individual system. A major lesson for the emerging world from past financial development is that there are risks …

Persistent link: https://www.econbiz.de/10008907303

Market failures and regulatory failures : lessons from past and present financial crises

Acharya, Viral V.; Cooley, Thomas F.; Richardson, Matthew; … - 2011

The paper analyzes the financial crisis of through the lens of market failures and regulatory failures. We present a case that there were four primary failures contributing to the crisis: excessive risk-taking in the financial sector due to mispriced government guarantees; regulatory focus on...

Persistent link: https://www.econbiz.de/10008907804

Financial inclusion and financial stability : current policy issues

Hannig, Alfred; Jansen, Stefan - 2010

The recent financial crisis has shown that financial innovation can have devastating systemic impacts. International standard setters' and national regulators' response has been a global concerted effort to overhaul and tighten financial regulations. However, at a time of designing stricter...

Persistent link: https://www.econbiz.de/10008908093

Green services and emergence and recovery from the global economic slowdown in developing Asian economies

Stoughton, Mark; Venkatachalam, Anbumozhi - 2010

The global economic slowdown has again highlighted the vulnerability of export-led development models and economies to downturns in export markets. Economic deepening or "rebalancing" with an emphasis on service-sector development should be - and is becoming - one long-term response to the...

Persistent link: https://www.econbiz.de/10003983157

The financial crisis, rethinking of the global financial architecture, and the trilemma

Aizenman, Joshua; Chinn, Menzie David; Itō, Hiro - 2010

This paper extends our previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. First, we examine the channels through which the trilemma policy configurations affect output volatility. Secondly, we investigate how trilemma policy configurations affect the...

Persistent link: https://www.econbiz.de/10003983276

Regulating systemic risk

Kawai, Masahiro; Pomerleano, Michael - 2010

The failure to spot emerging systemic risk and prevent the current global financial crisis warrants a reexamination of the approach taken so far to crisis prevention. The paper argues that financial crises can be prevented, as they build up over time due to policy mistakes and eventually erupt...

Persistent link: https://www.econbiz.de/10003928099

International financial integration and crisis intensity

Rose, Andrew - 2012

This paper analyzes the causes of the 2008 - 2009 global financial crisis together with its manifestations, using a Multiple Indicator Multiple Cause (MIMIC) model. The analysis is conducted on a cross-section of 85 countries. It is found that more financially integrated countries do not seem to...

Persistent link: https://www.econbiz.de/10009424735

New measures of the trilemma hypothesis : implications for Asia

Itō, Hiro; Kawai, Masahiro - 2012

We develop a new set of indexes of exchange rate stability, monetary policy independence, and financial market openness as the metrics for the trilemma hypothesis. In our exploration, we take a different and more nuanced approach than the previous indexes developed by Aizenman, Chinn, and Ito...

Persistent link: https://www.econbiz.de/10009620473

The international regulatory regime on capital flows

Lupo Pasini, Federico - 2011

Capital controls and exchange restrictions are used to restrict international capital flows during economic crises. This paper looks at the legal implications of these restrictions and explores the current international regulatory framework applicable to international capital movements and...

Persistent link: https://www.econbiz.de/10009407789

An Asian perspective on global financial reforms

Morgan, Peter J.; Pontines, Victor - 2013

The purpose of this study is to better understand the likely impact on Asian economies and financial institutions of various recent global financial reforms, including Basel III capital adequacy and liquidity rules. Part one reviews the lessons of the global financial crisis (GFC) of 2007-09 and...

Persistent link: https://www.econbiz.de/10009783717