The Issue An approach to bank regulatory reform that restricts the scope and incentives for bank balance-sheet expansion funded by short-term debt is essential to preventing another major financia…

See CFR Senior Fellow and Renewing America Director Edward Alden's accompanying blog post here. Despite the pressing infrastructure investment needs of the United States, federal infrastructure po…

Introduction The global financial crisis has exposed a weakness in the international monetary (non-)system. Desired levels of currency reserves in emerging markets have jumped over the past decade…

The European Stability Mechanism's (ESM) bank recapitalization instrument was designed to break the vicious circle tying financially weak eurozone governments to financially weak banks. It cannot, ho…

Abundant reserves of minerals and petroleum often precipitate a resource curse in countries with weak governance institutions: fostering political corruption, eroding democratic accountability, incit…