Abstract

A. Karmann: Financial systems: What can we learn from the past? Introduction to the book.- Part I: Financial stability and globalization: D. Neuberger: Evolution of financial systems: Convergence towards higher or lower stability?.- H. Wagner: Effects of globalization on national monetary policy.- W. Fuhrmann: Discussion of Helmut Wagner's 'Effects of globalization on national monetary policy'.- D.I. Fand: Are we facing a stock market bubble? - H. Wiesmeth: Discussion of David I. Fand's 'Are we facing a stock market bubble?' - M. Frenkel: What explains the Asian balance of payment crisis? A simple third-genereation approach.- T.M. Devinney: Causes and consequences of the Asian economic crisis.- W. Filc: Functions of economic policy in promoting the efficieny of the international financial system.- B. Eckwert: Discussion of W. Filc's 'Functions of economic policy in promoting the efficiency of the international financial system'.- Part II: Banking systems and restructuring: V. Timmermann: Universal banks - A reconsideration.- G. Goisis: Efficiency of the banking system: The Italian case.- H. Locarek-Junge: Discussion of Gianandrea Goisis's 'Efficiency of the banking system: The Italian case.- C. Enkhzaya: Institutional changes in economies in transition and stability of the banking system.- J.K. Solarz: Discussion of Chuluunbaatar Enkhzaya's 'Institutional changes in economies in transition and stability of the banking sector'.- J. Hoelscher: Central banking and financial stability in transition economies.- Part III: Public sector banks: G. Milbradt: The Saxon savings banks association: Saxony's reponse to the challenges posed by competition in the banking sector.- M. Weiss: Process of change within the universal banking system in Europe.- B. Schips: Public sector banks - Importance andrestructuring. Discussion of Georg Milbradt's 'The Saxon savings banks association'.- Part IV: Quantitative explorations in financial systems: M. Graff: Causal links between financial activity and economic growth: Evidence from two-wave model estimations.- A. Karmann: Sovereign risk, reserves, and implicit default probabilities: An option based spread analysis.- Notes on contributors.

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