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The macro-prudential authority is being adopted by monetary policy authorities as a means to limit systemic financial risks in the light of weaknesses revealed by the crisis. This article outlines the powers, scope and accountability that should characterise the macro-prudential authority.
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The financial crisis exposed serious flaws in the European framework for cross-border banking, including deposit insurance. Iceland’s experience shows that sizeable cross-border banking operations in small countries with their own currency come with very significant risks.
In the wake of the 2010 earthquake, this paper considers policy options for expanding the proportion of future Chilean earthquake losses that would be covered via new and expanded risk transfer mechanisms.
Participants at this conference evaluated the progress made in developing corporate governance frameworks and practices in the Middle East and North Africa and established a regional consensus about how to move forward.
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The dramatic increase in international capital flows, despite a temporary contraction during the global crisis, has motivated policy discussions on the associated benefits and costs of capital mobility. While international capital movements can support long-term growth, they also pose short-term policy challenges, including those associated with undesirable consequences of exchange-rate appreciation, financial and asset-price cycles
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This speech discusses policy responses to financial crises, with a particular focus on the US experience with government intervention during the 2008-09 financial crisis. It also reflects on the possibilities for conducting crisis management without financial guarantees.
This financial literary conference will focus on designing and establishing effective financial education initiatives to support and protect consumers.
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This newsletter focuses on global international investment activity, investment in agriculture, Korea's FDI reforms, the investment climate in Africa, G20 investment measures, and more.
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Resorting to crisis cartels would go against the two decade-long trend of tougher enforcement of cartels in developing and industrialised countries. As a practical matter, governments should have the procedures to evaluate such cartels during economic crises. Any exempted cartel should be granted a finite lifetime and be subject to review according to pre-specified criteria. Alternative measures are available to governments that can
This meeting focused on pension industry developments in South Africa and in the Africa region, the coverage and adequacy of pension systems and using pension savings for long term investment and economic development.