Author: Karel Kabelík, 2012
This paper provides a coherent qualitative analysis of the shadow banking sector and is structured as follows: Part 1 comments on various approaches to the definition of the notion shadow banking which can be found in the literature. It further analyses their relevance and describes an emerging consensus on the meaning of the term. Part 2 lays out the benefits and threats of shadow banking and focuses on the interconnectedness between the traditional and shadow banking sector as well as on their common and distinguishing features. Part 3 sums up ongoing regulatory efforts and offers a brief analysis of both the reasons for the regulation and its consequences. Finally, Part 4 concludes.
Author: Val Koromzay, 2013
"This essay is a personal attempt to make sense of the economic history of the OECD area over the past 30 years or so. It does not rely on figures or deep analysis or econometric results, but reflects my experience as I lived it over this period as Director for Country Studies at the OECD…an experience that brought me into constant contact with officials responsible for analyzing and formulating economic policies across a broad range of issues."