The information age technology revolution promises enormous benefits to the U.S. and global economies. Yet if those benefits are to be fully realized, policymakers in the U.S. and abroad must rethink some fundamental premises about how economic activity has traditionally been governed. Should we continue to regulate industries the way we have in the past? Does the digital age require a new approach to antitrust enforcement? To best facilitate global electronic commerce, what changes are needed in intellectual property law, professional licensing requirements, laws governing privacy and...
The information age technology revolution promises enormous benefits to the U.S. and global economies. Yet if those benefits are to be fully realiz...
The Future of Domestic Capital Markets in Developing Countries addresses the challenges that countries face as they develop and strengthen capital markets. Based on input from the world's most prominent capital market experts and leading policymakers in developing countries, this volume represents the latest thinking in capital market development. It captures the views of a global gathering of experts, with perspectives from developing and developed countries, from all regions of the world, from the public and private sector.
This volume should be of interest to senior financial sector...
The Future of Domestic Capital Markets in Developing Countries addresses the challenges that countries face as they develop and strengthen capital ...
The historic European Union Directive on Data Protection will take effect in October 1998. A key provision will prohibit transfer of personal information from Europe to other countries if they lack "adequate" protection of privacy. If enforced as written, the Directive could create enormous obstacles to commerce between Europe and other countries, such as the United States, that do not have comprehensive privacy statutes.
This book provides the first detailed analysis of the sector-by-sector effects of the Directive. It examines such topics as the tension between privacy laws and modern...
The historic European Union Directive on Data Protection will take effect in October 1998. A key provision will prohibit transfer of personal informat...
As trade flows expanded and trade agreements proliferated after World War II, governments--most notably the United States--came increasingly to use their power over imports and exports to influence the behavior of other countries. But trade is not the only way in which nations interact economically. Over the past two decades, another form of economic exchange has risen to a level of vastly greater significance and political concern: the purchase and sale of financial assets across borders. Nearly $2 trillion worth of currency now moves cross-border every day, roughly 90 percent of which is...
As trade flows expanded and trade agreements proliferated after World War II, governments--most notably the United States--came increasingly to use th...
One of the first rules of investing is diversification: spreading resources over many types of investments in order to minimize financial risk. Mutual funds have been the diversification vehicle of choice for the last several decades. In recent years, however, other opportunities for diversification--such as separately managed accounts and exchange-traded funds--have enjoyed rapid growth. What lies ahead for the mutual fund industry in light of this increasingly competitive environment? In this volume, experts from the United States and Japan look at forces of change in their securities...
One of the first rules of investing is diversification: spreading resources over many types of investments in order to minimize financial risk. Mut...
In recent years, the major industrialized nations have developed cooperative procedures for supervising banks, harmonized their standards for bank capital requirements, and initiated cooperative understanding about securities market supervision. This book assesses what further coordination and harmonization in financial regulation will be required in an era of increased globalization. A volume of Brookings' Integrating National Economies Series
In recent years, the major industrialized nations have developed cooperative procedures for supervising banks, harmonized their standards for bank cap...
Once we paid for things with bills, coins, or checks. Today we pay with zeroes and onesdigital entries on credit and debit cards, or electronic messages sent over the Internet. In "Moving Money," distinguished analysts explore this trend, its development and likely future, and the ramifications of this transformation.
This is a book about money as a medium of exchangein the past, in the present, but particularly in the future. What forms has money taken over the years? Moreover, how have those means of payment changed in recent years, and how will they develop in the future? And what (if...
Once we paid for things with bills, coins, or checks. Today we pay with zeroes and onesdigital entries on credit and debit cards, or electronic mes...
There is little dispute that the mortgage meltdown of 2007, created by irresponsible lending and lax oversight, helped lead to the global financial crisis. Why were these securities backed by subprime debt so desirable to so many seemingly sophisticated investors? The answer lies in distorted incentives, opaque securitization structures and a willingness to believe that house prices would continue to rise indefinitely and the hope for super-normal returns. In "Prudent Lending Restored" experts from the United States, Europe, and Japan draw a timeline of key events along the road to our...
There is little dispute that the mortgage meltdown of 2007, created by irresponsible lending and lax oversight, helped lead to the global financial...
As the global economy continues to weather the effects of the recession brought on by the financial crisis of 2007-08, perhaps no sector has been more affected and more under pressure to change than the industry that was the focus of that crisis: financial services. But as policymakers, financial experts, lobbyists, and others seek to rebuild this industry, certain questions loom large. For example, should the pay of financial institution executives be regulated to control risk taking? That possibility certainly has been raised in official circles, with spirited reactions from all corners....
As the global economy continues to weather the effects of the recession brought on by the financial crisis of 2007-08, perhaps no sector has been m...
While the immediate dangers from the recent financial crisis have abated--much of the financial system has returned to profitability and the economy is growing, albeit slowly--the damage to the economy will linger for years. Among the many impacts is the problem that may be most acute in the United States: how state and local governments and private companies will honor their obligations under defined benefit (DB) pension plans. Institutional investors also confront new difficulties in the low-interest-rate environment that has prevailed since the onset of the crisis. East Asian economies,...
While the immediate dangers from the recent financial crisis have abated--much of the financial system has returned to profitability and the econom...
