This dissertation advances research on the role of states in shaping the global financial network. The relationship between states and financial globalization is complex and multifaceted. States employ various economic tools, such as secondary sanctions, anti-money laundering (AML), and...

We analyze whether four market-based measures of the global systemic importance of financial institutions offer early warning signals during three financial crises. The tests based on the 2007/2008 crisis show that only one measure (∆CoVaR) consistently adds predictive power to conventional...