Citing crypto-assets’ growing market capitalization and footprint and evolving market structure, institutional investors, including central banks, have been exploring exposures to crypto-assets and reviewing...
The World Bank Treasury’s Reserve Advisory and Management Partnership (RAMP) conducted its third survey on reserve management practices in 2021. One hundred and nineteen central banks, from different regions...
This paper uses a unique survey data set of 105 central banks to investigate whether investment policies for central bank foreign reserve portfolios are linked to the governance arrangements for reserve...
This primer responds to central banks’ growing demand for knowledge on social, governance, and environmental considerations (ESG) in the investment process. This area has gained traction in the last two...
In the spring of 2018, the World Bank Treasury's Reserves Advisory and Management Program (RAMP) concluded its inaugural survey on central banks' reserve management practices. RAMP sought to assess whether...
In the Spring of 2018, the World Bank Treasury’s Reserves Advisory and Management Partnership (RAMP) concluded its inaugural survey on central banks’ reserve management practices. RAMP sought to assess...
In contrast to some recent research, this paper finds that institutional and macroeconomic factors are related to the depth and currency composition of government bond markets. Using panel data for developed...
The authors analyze the role of institutions in resolving systemic banking crises for a broad sample of countries. Banking crises are fiscally costly, especially when policies like substantial liquidity...
The development of government bond markets and, in particular, their currency composition have recently received much interest, partly because of their relation with financial crises. The authors study...
Poland's capital markets remain underdeveloped in comparison to countries of similar per capita income. Large listed companies rely importantly on external sources of finance, mostly from banks and increasingly...
In recent years, electronic finance, especially online banking, and brokerage services, has reshaped the financial landscape. This paper reviews these developments, and analyzes their implications for...
This article analyzes the costs and benefits of different degrees of competition and different configurations of permissible activities in the financial sector and discusses the related implications for...
Principles of financial regulation : a dynamic portfolio approach; by Joseph E. Stiglitz. Competition and scope of activities in financial services; by Stijn Claessens, and Daniela Klingebiel. Toward transparency...
In recent decades, a majority of countries have experienced a systemic banking crisis requiring a major-and expensive-overhaul of their banking system. Not only do banking crises hit the budget with outlays...
Asset management companies have been used to address the overhang of bad debt in the financial system. There are two main types of asset management company: those set up to expedite corporate restructuring...
The Brazilian equity market is characterized by relatively low liquidity, high cost of capital (low firm valuation), and limited new capital raising. Ownership concentration of corporations is high, with...
Resolving systemic banking and corporate distress is not easy. The large scale of the East Asian financial crisis has made the task even more daunting in Indonesia, the Republic of Korea, Malaysia, and...