Ireland is recovering from an extremely large banking crisis born of over-exuberant property lending. The government has taken a wide range of measures to tackle the crisis over the past 3 years. Larger bad property loans have been transferred to a government controlled “bad bank”, NAMA, and...

The global financial and economic crisis has struck Iceland with extreme force. Iceland’s three main banks, accounting for almost all of the banking system, failed in October 2008. They were unable to resist the deterioration in global financial markets following the failure of Lehman...

Le recours aux contrats de partenariat public-privé (PPP) peut induire un certain nombre d'avantages pour les partenaires publics, lesquels tiennent notamment à une couverture contre les risques de dérives de délais et de coûts. Ces derniers peuvent être particulièrement importants dans...

RESUMENEn el presente trabajo se analiza la infl uencia de las agencias de califi cación crediticia en los mercados de valores, a través de una revisión de trabajos empíricos realizados en diferentes países, así como los recientes esfuerzos delos gobiernos por establecer normas que las...

Cet article aux enseignements issus de l'Histoire américaine de la crise des dettes publiques gérée par Alexander Hamilton à la guerre de sécession. afin d'en tirer les éventuels enseignements pour une zone euro fédérale qui disposerait d'un budget commun. On montrera, ensuite, que la...

The global financial crisis that emerged in mid 2007 has caused considerable economic disruptions in the United States and elsewhere, and exposed major flaws in the global financial system. After examining the origins of the crisis, this paper recommends specific policy responses to resolve the...

Financial innovation and integration have spurred financial development and enhanced consumer choice. Financial integration has also been associated with the emergence of large, complex, cross-border financial institutions (LCFIs). This has changed risk profiles and made cross-border contagion...

Bank regulation might have contributed to or even reinforced adverse systemic shocks that materialised during the financial crisis. Capital regulation based on risk-weighted assets encourages innovation designed to circumvent regulatory requirements and shifts banks’ focus away from their core...

It is now six years since a devastating financial and economic crisis rocked the global economy. Supported strongly by the G20 process, international regulators led by the Financial Stability Board have been working hard ever since to develop new regulatory standards designed to prevent a...

In the wake of the Great Recession, a massive monetary policy stimulus was provided in the main OECD economies. It helped to stabilise financial markets and avoid deflation. Nonetheless, GDP growth has been sluggish and in some countries lower than expected given the measures taken, and...