When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are an integral part of financial marketsu0092 organization. We assess the degree of risk sharing that can be achieved through financial markets when enforcement is based on the...

Exchanges and other trading platforms are often vertically integrated to carry out trading, clearing and settlement as one operation. We show that such vertical silos can prevent efficiency gains from horizontal consolidation of trading and settlement platforms to be realized. Independent of the...

The imbalances in bargaining power between the contracting parties in the food supply chain have drawn much scholarly attention but have also been closely examined by policy makers. The European Commission is committed to facilitate the restructuring of the agricultural sector by encouraging the...

This staff working document builds on the policies laid out in the European Commission Communication Tax and development - cooperating with developing countries on promoting good governance in tax matters and reflects the discussions at the Third FfD Conference. It analyses ways to support...

This paper is written by DEVCO B3 and sets out the concepts that underlie the preparation of VET reforms and other VET-related projects by EU Delegations or teams within the European Commission.