Transmission of liquidity shocks through non-bank financial intermediaries: Evidence from the International Banking Research Network
The role of non-bank financial intermediaries in funding markets and financial crises has increased in recent decades. This column examines the rise of the sector
Regulation and growth: Lessons from nearly 50 years of product market reforms
Product market regulation reforms directly affect firm entry, innovation and reallocation, and thus productivity and economic growth. This column leverages the 2025 update of the
Industrial policy lessons from East Germany’s privatisation
There has been renewed interest in industrial policy as a tool to reshape the structure of economic activity, but little evidence exists on the successful
