Feature

The next ‘Mr RMB’

Five leading candidates have emerged as the likely successor to Zhou Xiaochuan, governor of the People’s Bank of China. Hui Feng assesses their relative strengths and weaknesses

Governing the central bank governors

Central banks face multiple challenges in the current market environment. But they still need to press towards better governance to build institutions that are fit for purpose

Banking union divides Europe

The European Central Bank is set to gain responsibility for the supervision of the continent’s banks in a move unlikely to restore trust with an already sceptical German public

Taming the finance monster

The best way to resolve global financial instability is for the owners of capital to assert themselves, with sovereign funds well positioned to take the lead, say Paul Woolley and Dimitri Vayanos

The future of bank capital

Prudential regulators are relying on the Modigliani-Miller theorem to hold true as banks are required to hold substantially more capital. But could their faith in the theorem be misplaced?

Where the BIS falls short

Robert Pringle compares the analysis and policy recommendations offered by the BIS in its latest annual report with those in his new book, The Money Trap

Can Japan afford to grow?

Japan has managed to maintain living standards during its two ‘lost decades’, but its efforts to do so now represent obstacles to achieving sustainable growth. By Ryo Watabe.

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