Drivers of systemic banking crises: the role of bank-balance-sheet contagion and financial account structure

15-Nov-2011

This paper examines whether the composition of a country’s external liabilities and assets has an incidence on its risk of suffering financial turmoil. Particular emphasis is put on the role of international financial integration, using newly-constructed measures of contagion shocks.

The demand for safe assets in emerging economies and global imbalances: new empirical evidence

15-Nov-2011

Mismatches between the supply and the demand of safe financial assets in fast-growing emerging countries have been singled out by economic theory as drivers of international capital flows and, ultimately, global current account imbalances. This paper assesses empirically the contribution of the search for safe assets to the size and composition of emerging countries’ international asset portfolios.

Corruption: Kazakhstan should strengthen legislation and integrity of state institutions

20-Oct-2011

Kazakhstan should complete the reform of its criminal legislation in order to comply with international standards and strengthen integrity in the public administration, according to a new report by the Istanbul Anti-Corruption Action Plan (IAP).

Corruption: Armenia should step up implementation of anti-corruption policies and laws

20-Oct-2011

Armenia should step up its fight against corruption by ensuring an effective enforcement of laws and giving institutions the resources they need to tackle it, according to a new report by the Istanbul Anti-Corruption Action Plan (IAP).

Trade : OECD head calls on emerging economies to join OECD export credit work

29-Sep-2011

Emerging economies which do not currently subscribe to OECD rules on export credits could immediately join discussions to ensure fair global export competition for the future, said OECD Secretary-General Angel Gurría.

Sharp rise in aid to water and sanitation

01-Sep-2011

Aid to water and sanitation rose sharply in the last decade to USD 8.2 billion in 2008-09 (total annual average aid commitments), with Japan providing the largest share (28%). Sub-Saharan Africa and South and Central Asia received the most - 27% and 19%, respectively.

Corruption : OECD recognises Norway’s commitment to the fight against foreign bribery and recommends further improvements

30-Jun-2011

Norway has made significant progress in its efforts against the bribery of foreign public officials in recent years, according to a new OECD report. But more could be done to strengthen enforcement, including by focusing on the confiscation from companies of the proceeds of bribery.

Corruption: Luxembourg must implement without delay its legislation against the bribery of foreign public officials, says OECD

30-Jun-2011

Luxembourg must step up its efforts to detect and prosecute cases of bribery of foreign public officials, particularly now that its legal framework has been strengthened, in compliance with the Anti-Bribery Convention, to allow criminal proceedings to be taken not only against individuals but also against companies involved in such offences.

Eastern Europe and South Caucasus: Reforms to improve competitiveness needed to attract investors

16-Jun-2011

Eastern Europe and South Caucasus economies will have to become more competitive if they are to attract more and better targeted foreign investment, says a new OECD report to be presented on 17 June at an OECD Ministerial Roundtable in Prague, Czech Republic.

Estonia has not fully reaped the benefits of globalisation

18-Apr-2011

Estonia is an open economy with a business friendly regulatory environment. Nevertheless it has not fully reaped the benefits of globalisation. Enterprise support should therefore focus more on making firms more productive and overcoming size constraints. Furthermore, an active approach to better market the advantages of Estonia as a location for export-oriented foreign investors appears warranted.

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