This empirical study addresses the meta-processing of data on the competitiveness of a global financial centre. International financial centres are in open competition with each other as countries and cities around the world have developed financial centres since the early 1980s for the global...

The Asian and world financial crisis of the late 1990s has shown the limits of governments as the sole or even the primary contributor to policy debates regarding the development of commercial law and economic development. Non-governmental scholarly and professional groups have an important...

The Note examines salient aspects of the provision of Non- Sovereign Guaranteed Loans (NSGLs) by the Bank for its Middle Income Countries (MICs) and its legal implications, following guidelines for its implementation approved by the Board of Directors. Until the advent of the NSGL programme, the...

Following the recent global financial crisis there is a growing interest in alternative finance – and microfinance in particular – as new instruments for providing financial services in a socially responsible way or as an alternative to traditional banking. Nonetheless, correspondingly there...

We study the relation between institutionalization of capital and the reliance on public markets by corporations and investors. Country-level evidence indicates that capital under institutional management (ownership by mutual funds, pension funds, and insurance companies) is negatively related...

Official development assistance is a key source of external finance in many developing countries. A striking feature of these aid flows is their positive correlation with the business cycle of recipient countries. This pattern is puzzling in that it reinforces recipients' already strong and...

The European single market supported the creation of multinational banking groups. However, the European banking directives and the single license system were built along the model of the stand-alone bank and cannot keep pace with recent market developments. The national character of prudential...

The paper empirically analyzes stock market integration and the benefit possibilities of international portfolio diversification across the Southeast Asia (ASEAN) and U.S. equity markets. It employs daily sample of 6 ASEAN equity market indices and S&P 500 index as a proxy of U.S. market index...

This paper presents a theoretical framework to understand the impact of foreign bank entry on the access to and the price of credit for different types of firms. A major point of departure from the previous literature is that incumbents' information about firms is endogenous in the model;...