This Article reviews the principal means of IFI peace-building and offers several proposals to enhance the effectiveness of those means. Focusing primarily on the World Bank Group and the IMF, this Article posits that profound changes are necessary if the Bretton Woods institutions are to realize their potential as leaders in the international peace process. Part I of this Article provides a br...

Standard Disclaimer. This volume is a product of the staff of the International Bank for Reconstruction and Development/ The World Bank. The findings, interpretations, and conclusions expressed in this paper do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in t...

I establish a theoretical framework to address three distinct, but interrelated puzzles in international economics: (1) the occurrence of twin crises, (2) the existence of large amounts of sovereign debt, and (3) the presence of substantial amounts of international reserves. By considering the interaction between growth and banking in a small open economy that is unable to commit to repaying it...

The Sukuk market has become the fastest growing segment of the Islamic financial services industry. Governments and other corporate entities have started tapping the local and international Sukuk markets in order to raise the required funds. The investor base is also expanding and Sukuk has now become a popular and obvious choice for retail investors in a number of jurisdictions. However, becau...

Rev Panam Salud Publica/Pan Am J Public Health 8(1/2), 2000 A roundtable discussion on international cooperation in health reform in the Americas In April 2000 representatives from several international donor organizations conducted an electronic roundtable to look into their “crystal balls” and imagine a future for donor collaboration in health sector reform in the Americas. The participants w...

The entry of multinational banks (MNBs) into the developing and transition economies is expected to create more market discipline for domestic banks, thus making them more efficient and enhancing financial stability. But is this the case? Using data from the Bank for International Settlements and the International Monetary Fund, I first try to determine which factors tend to increase MNB lendin...

This paper argues that changes in intergovernmental relations in Japan in the post-war period are best understood in terms of an integrationist as opposed to a separationist model. While the latter model emphasizes the benefits of autonomy for local governments and of competition among them, the former stresses the benefits of minimizing coordination problems and building capacity through the s...

☆ The first draft of this paper was written when Jamal dent at University of California, Berkeley. The author wo mous referees for useful comments; Barry Eichengreen, Rose for helpful discussions; and the UC Berkeley Irma ing. Ammar Yasser Safa provided inspiration. The finding sions expressed in this paper are entirely those of the a represent the views of the International Bank for Reco World...

In the wake of the global financial crisis much attention has been devoted to the role of complexity of bank linkages in the transmission of shocks. We shed light on this issue using a rich dataset on international syndicated bank lending matched with bank financial information. To study how financial crises spread through the global banking network, we distinguish among channels such as banks'...

We investigate the impact of bank loan announcements on borrower value during the recent boom and bust cycle of the 2000’s using a sample of 253 large loans to French borrowers. We find no significant stock market reaction to bank loan announcements during the boom period but a significant and negative one during the financial crisis. Hence, although we document significant changes in ...