Private capital markets and inequality
Private capital markets have expanded rapidly, but access remains concentrated among wealthy investors. This column presents new evidence from the US which shows that high-net-worth
Green finance or financing green? Bridging the EU’s sustainable-finance and capital-market architectures
The European Union has not done a good job of integrating its green goals with its overall approach to finance. Sustainability disclosure and capital markets
How countercyclical capital buffers travel: Internal capital markets and domestic borrowing
Macroprudential capital buffers are designed to make banking systems safer. This column shows that, at the bank–firm level, they do. But multinational firms respond: when
Building bank resilience by Additional Tier 1 debt reform
EU bank regulation under Basel III ensures bank solidity but often creates barriers to EU financial integration. Additional Tier 1 contingent convertible debt is designed
Stock market participation and financial education in the digital age
Stock market participation remains low, especially among the older, less affluent, and less educated households, despite its clear benefits for wealth preservation and growth. Although
Plugging Europe’s investment gap: understanding the potential of leveraging institutional investors
Expanding funded pensions via auto-enrolment could boost long-term investment and saver security, allowing the EU to address its investment gap. The European Union faces a
Globalization and the reform of European social models
Combining product and capital market reforms at EU level with labour market and social policies at national level would be desirable, particularly within the euro
