In seinem Vortrag am 26. Juni 2001 präsentierte Prof. Dr. Hans-Werner Sinn, Präsident des ifo Instituts, eine Analyse und die neueste ifo-Prognose für die Weltkonjunktur und die deutsche Wirtschaft.

Limited liability and asymmetric information between an investment bank and its lenders provide an incentive for a bank to undercapitalise and finance overly risky business projects. To counter this market failure, national governments have imposed solvency constraints on banks. However, these...

The volume includes theoretical articles on banks' liability restrictions, on the possible causes of the banking crisis and economic-policy recommendations on banking regulation by Hans-Werner Sinn in the past three decades.

While the old systems competition took place with closed borders, globalisation has brought about a new type of systems competition that is driven by the mobility of factors of production. The new systems competition will likely imply the erosion of the European welfare state, induce a race to...