The global financial crisis has created a new opportunity to reassess both the strength and weaknesses of the current international financial architecture. To this end, the IGF has brought together a number of eminent scholars including Nobel Laureate Professor Robert Engle and Distinguished Professor of Finance from the University of Chicago, Professor Douglas Diamond and policy makers including Deputy Secretary of Federal Treasury, Mr Jim Murphy. This major international forum created a unique opportunity for researchers and policy makers to analyse issues that could assist the international community to restructure the global financial system. The outcome of such engagement is the publication of a number of outstanding research papers that are written by highly influencial policy makers and well known researchers from around the world.
The editors of this work are Dr Luci Ellis, Head of Financial Stability at the Reserve Bank of Australia Dr Claudio Borio, Head of Research of the BIS and Dr Bruce Arnold, Acting Head of Research at APRA and Professor Fariborz Moshirian. The contributors to this publication included researchers from the following financial institutions:
- Bank for International Settlements,
- Bank of Italy,
- De Nederlandsche Bank,
- International Monetary Fund,
- Reserve Bank of Australia, and
- Royal Bank of Scotland.
The other researchers were from the following institutions:
- International Capital Market Association Centre (ICMA Centre),
- National University of Singapore,
- Swiss Institute of Banking and Finance,
- Tilburg University,
- Wageningen University,
- University of Alicante,
- University of Groningen,
- University of Mannheim,
- University of Melbourne,
- University of Navarra, and
- University of Tokyo.
The papers included in this special issue are listed as follows:
- S. Varotto (ICMA Centre), Stress testing credit risk: The Great Depression scenario. Click here for text
- G. Lopez-Espinosa (University of Navarra), A.Moreno (University of Navarra), A. Rubina (University of Alicante) and L. Valderrama (International Monetary Fund), Short-term wholesale funding and systemic risk: A global CoVaR approach. Click here for text
- M. Affinito (Bank of Italy), Do interbank customer relationships exist? And how did they function in the crisis? Learning from Italy. Click here for text
- S. Fukuda (University of Tokyo), Market-specific and currency-specific risk during the global financial crisis: Evidence from the interbank markets in Tokyo and London. Click here for text
- J. Klomp (Wageningen University) and J. de Haan (De Nederlandsche Bank, University of Groningen), Banking risk and regulation: Does one size fit all? Click here for text
- V. Aebi (Swiss Institute of Banking and Finance), G. Sabato (Royal Bank of Scotland), and M. Schmid (University of Mannheim), Risk management, corporate governance, and bank performance in the financial crisis. Click here for text
- Z. Shi (University of Melbourne) and B. Werkery (Tilburg University), Economic costs and benefits of imposing short-horizon value-at-risk type regulation, Click here for text
- J. C. Duan (National University of Singapore) and E. Van Laereb (National University of Singapore), A public good approach to credit ratings: from conceptualisation to implementation. Click here for text