The rapid rise in the number and size of sovereign wealth funds means that concerns about them are becoming more significant and shaping best practice has become more urgent, writes Robert M Kimmitt.

Tim Congdon laments the fact that academic monetary theory has become so technical, abstruse and remote from day-to-day practicality, that busy decision-takers in banking may start ignoring it.

As banks seek growth in segments of the world’s population among whom penetration is low, Kris Gopalakrishnan explains how technology can help them achieve a return on their investments.

Recent turmoil shows the internal risk models of many banks are inadequate, underestimating the degree of risk exposure. The Basel Committee must therefore conduct further study before allowing banks to use the internal ratings based (IRB) approach for calculating regulatory capital, says Harald Benink.

Regulators should worry about incentives, liquidity and the perverse impact of past regulations, and seriously re-examine their approach in the light of the incoming evidence of culpability for the credit crisis, says Raghuram G Rajan.

The issue of transparency is pivotal to the present financial crisis, writes Jacques de Larosière. He shares his thoughts on the source of the crisis and what action needs to be taken to restore investor confidence.

Regulators and governments must not make the mistake of responding in haste to recent crises, such as German bank failures, the Northern Rock debacle and liquidity problems, advises Howard Davies.

Taking a global perspective is vital to learn lessons from financial market turbulence and find the right approach to move forward in the future, says Jaime Caruana.

Remaining competitive in the global marketplace requires that Europe lead the second phase of the internet, which will be driven by collaboration and Web 2.0 technologies, says John Chambers.

With the subprime crisis in the US causing worldwide reverberations, we asked a group of leading economists to consider whether a soft or hard landing was in prospect. They also considered sovereign wealth funds, the renminbi and the roles of the IMF and World Bank.