Latest Documents


  • 7-August-2014

    English, PDF, 395kb

    Problems in the International Financial System

    Since the 1980s, OECD investment-saving correlations – as an inverse measure of economic openness – indicate a very wide disparity of openness between the OECD and emerging market economies (EMEs) with an absence of open markets in the latter. Given the increasing weight of EMEs in the world economy, this paper warns that this pattern of growth with disparity of openness is ultimately unsustainable.

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  • 25-June-2014

    English, PDF, 443kb

    Measurement and analysis of implicit guarantees for bank debt: OECD survey results

    This report describes the key findings from responses by 35 countries to a survey on implicit guarantees. Policy makers have announced their intention to rein in the values of implicit guarantees so it is important to measure their value to help facilitate the task of assessing progress in reducing their value.

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  • 19-June-2014

    English

    The Bitcoin Question: Currency versus Trust-less Transfer Technology

    The financial crisis has led to a widespread loss of trust in financial intermediaries of all kinds, perhaps helping to open the way towards the general acceptance of alternative technologies. This paper briefly summarises the crypto-currency phenomenon, separating the ‘currency’ issues from the potential technology benefits.

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  • 27-March-2014

    English, PDF, 163kb

    Institutional investors and ownership engagement

    This article provides a framework for analysing the character and degree of ownership engagement by institutional investors. There are large differences in ownership engagement between different categories of institutional investors. There are also differences in ownership engagement within the same category of institutional investors such as hedge funds, investment funds, etc.

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  • 26-March-2014

    English, PDF, 848kb

    Five decades at the heart of financial modernisation: The OECD and its Committee on Financial Markets

    This report shows how OECD’s work on financial markets, with the Committee on Financial Markets (CMF) at its core, has evolved over the past five decades. More than just a chronology, it attempts to explain and analyse the factors and dynamics that transformed financial markets and the work conducted in that area – thereby putting into perspective the challenges that lie ahead.

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  • 24-March-2014

    English, PDF, 844kb

    Improving the monitoring of the value of implicit guarantees for bank debt

    The value of implicit guarantees has declined from its peak at the height of the financial crisis, which is consistent with progress made regarding the bank regulatory reform agenda, as one would expect that many of the reform measures imply a more limited value of implicit guarantees for bank debt. Implicit guarantees persist however and their value continues to be significant.

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  • 24-March-2014

    English, PDF, 239kb

    SMEs and the credit crunch: Current financing difficulties, policy measures and a review of literature

    This article presents a brief overview of current financing difficulties for SMEs and policy measures to support SME lending during the crisis, and presents a literature review related to difficulties in SME’s access to finance during the crisis, against a background of a sharp decline in bank profitability and an erosion of bank capital that negatively affected lending.

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  • 13-March-2014

    English

    14th Tokyo Roundtable on Capital Market Reform in Asia

    Discussions at the 14th roundtable focussed on quantitative easing (QE) tapering to Asia, financial regulatory reforms, financial liberalisation and fragmenting growth, long-term investment for infrastructure, financial inclusion and disaster risk financing in insurance and financial markets.

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  • 25-November-2013

    English, PDF, 312kb

    Bank Business Models and the Basel System: Complexity and Interconnectedness

    The main hallmarks of the global financial crisis were too-big-to-fail institutions taking on too much risk with other people’s money: excess leverage and default pressure resulting from contagion and counterparty risk. This paper looks at whether the Basel III reforms address these issues effectively and proposes improvements to the current reform proposals.

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  • 25-November-2013

    English, PDF, 114kb

    Capital Controls on Inflows, the Global Financial Crisis and Economic Growth: Evidence for Emerging Economies

    This paper investigates whether countries that had controls on inflows in place prior to the crisis were less vulnerable during the global financial crisis. More generally, it examines economic growth effects of such controls over the entire economic cycle, finding that capital restrictions on inflows (particularly debt liabilities) may be useful in good times but may have adverse effects in a crisis.

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