Since the crisis, there have been major changes in current account imbalances: whereas the global surplus was concentrated in China and oil exporters in the pre-crisis period, capital is today mainly exported from the euro area, Japan and a few other advanced economies. Moreover, although in the...

This report identifies potential barriers to cross-border transactions that prevent securities-based and lending-based crowdfunding from scaling up across Europe. We look at the divergent regulatory approaches to crowdfunding across EU Member States, consider microstructural features of...

The purpose of our report is to provide a comprehensive overview of capital movements in Europe in a global context. Free movement of capital, which is one of the four fundamental economic freedoms of the European Union, can enhance welfare if it leads to better allocation of financial and...

The purpose of our report is to provide a comprehensive overview of capital movements in Europe in a global context. Free movement of capital, which is one of the four fundamental economic freedoms of the European Union, can enhance welfare if it leads to better allocation of financial and...

This report analyses capital movements in Europe in a global context. Capital outflows from the EU as a whole declined in recent quarters and there was even a net inflow in 2015Q1, driven by both euro-area and non-euro area countries. Some emerging countries experienced capital outflows, which...