Organisation

Centre for International Finance and Regulation

Owning Institution:

University of New South Wales

Macquarie University

University of Technology Sydney

Government of Australia

Government of New South Wales

University of Sydney

University of Melbourne

Australian National University

The Centre for International Finance and Regulation (CIFR) was a Centre of Excellence operating from 2011 to 2016 to address fundamental issues affecting the Australian financial industry. CIFR’s mission was to promote financial sector vibrancy, resilience and integrity, supporting Australia as a regional financial centre through leading research and education on systemic risk, market and regulatory performance and financial market developments. CIFR funded 71 research projects, involving well over 100 researchers from domestic and international universities.

For Australia’s financial industry, CIFR provided a strategic link between academia, policy-makers, regulators and other industry participants. Now closed, the Centre's output of 148 papers are all available at this publisher page.

Working paper

Global Financial Crisis, liquidity shocks and global financial stability

30 Apr 2014

Tung Lam Dang,

Fariborz Moshirian,

Avanidhar Subrahmanyam,

Bohui Zhang

Centre for International Finance and Regulation

The most recent global financial crisis, characterized as a liquidity crunch, began in the U.S. in late 2007 and quickly spread to other countries. The rapid propagation of the liquidity shock and the severe effects of the crisis on stock market performance have raised several important questions. Which channels contributed to the transmission of liquidity...

Working paper

Placements and small cap firms - an analysis of changes to ASX Listing Rules

30 Apr 2014

Mark Humphery-Jenner,

Jo-Ann Suchard

Centre for International Finance and Regulation

The ASX recently amended its listing rules to allow small-cap companies to issue up to 25% of their share capital at a discount of up to 25%- Rule 7.1A (up from a 15% issue at a 15% discount). The changes have the potential to distort the shareholder-register. Further, if the issue is to an existing...

Working paper

Foreign banks and international shock transmission: ownership matters no more

30 Apr 2014

Ying Xu,

Hai Anh La

Centre for International Finance and Regulation

This paper studies the recent (2007-2009) Global Financial Crisis and its transmission through bank lending to emerging Asian economies. It highlights two channels of shock transmission identified in the literature: bank ownership and liquidity. We find that the bank ownership does not play a substantial role in the transmitting process. It is the liquidity channel...

Working paper

State capital: Global and Australian perspectives

31 Mar 2014

George Gilligan,

Megan Bowman

Centre for International Finance and Regulation

This paper examines how swiftly core characteristics of the global economy are changing and the implications for Foreign Direct Investment (FDI) into Australia, especially FDI from China. The paper focuses on how state investment capital is an increasingly important strategic priority for governments, regulators, finance sector participants and other stakeholders. This is of the utmost...

Working paper

Ratings-based capital adequacy for securitizations

31 Mar 2014

Kristina Lutzenkirchen,

Daniel Rosch,

Harald Scheule

Centre for International Finance and Regulation

This paper develops a framework to measure the exposure to systematic risk for pools of asset securitizations and measures empirically whether current ratings-based rules for regulatory capital of securitizations under Basel II and Basel III reflect this exposure.