The global financial crisis provides an important testing ground for the financial globalisation
model. We ask three questions. First, did financial globalisation materially contribute to the …

During the pre‐crisis period, Europe experienced substantial cross‐country variation in
domestic credit growth and cross‐border capital flows. We investigate the inter‐relations …

EXECUTIVE SUMMARY The High-level Expert Group was requested to consider in depth
whether there is a need for structural reforms of the EU banking sector or not and to make …

This report argues that policy reforms in micro-and macro-prudential regulation and
macroeconomic policies are needed for Europe to reap the important diversification and …

Economic performance of a country is largely determined by banking and financial system.
Banking and finance play a vital and crucial role in framing public policies in today's …

The recent financial crisis has shown how interconnected the financial world has become.
Shocks in one location or asset class can have a sizable impact on the stability of institutions …

Using bank-level data on 368 foreign subsidiaries of 68 multinational banks in 47 emerging
economies during 1994–2008, we present consistent evidence that internal capital markets …

Cross-border bank lending dropped sharply during the financial crisis. This feature uses a
panel regression framework to analyse the key drivers of cross-border bank lending to 21 …

Very low interest rates in major currencies have raised concerns over international credit
flows to robustly growing economies in Asia. This paper examines three components of …

The international linkages between banks play a crucial role in today's global economy.
Existing models explain these links largely on the basis of portfolio theory, in which banks …