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Brookings-Wharton Papers on Financial Services
Brookings Wharton Paper Financ Serv

Published/Hosted by Brookings Institution. ISSN (printed): 1098-3651. ISSN (electronic): 1533-4430.

It has almost become a cliche to say that financial services have become "globalized," but it is true. By any relevant measure-volume of foreign exchange transactions, amount of cross-border financial flows, or amount of cross-border investment and merger activity among financial firms-finance and financial services have become global activities. This third volume of the Brookings-Wharton Papers on Financial Services explores various dimensions of this ongoing process through papers that examine global trends in the banking and reinsurance industries and securities markets, the challenges these trends pose for national regulations, the evolution of global accounting standards, the alleged impacts of global hedge funds on capital flows in and out of emerging markets, and the erosion of legal barriers to the establishment of foreign financial service firms around the world.

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