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William R. Cline analyzes whether reforms of capital requirements for banks have gone far enough. He calculates how much higher bank capital reduces the risk of banking crises. This study also challenges the recent "too much finance" literature, which holds that in advanced countries banking sectors are already too large and are curbing growth.

The Paradox of Risk contends that central banks¿ fear of inflation and risk taking has hampered their efforts to revive global prosperity. Ángel Ubide mobilizes a wealth of research on the experience from the last decade, urging policymakers to leave their "comfort zone," embrace risk taking, and take bolder action to brighten economic prospects.

The world is poised on the threshold of economic changes that will reduce the income gap between the rich and poor on a global scale. Tomas Hellebrandt and Paolo Mauro detail how this important moment in world history will unfold and serve as a warning to policymakers to prepare for the profound effects on the world economy and the planet.