Les turbulences observées sur les marchés financiers n’ont guère affecté jusqu’à présent la distribution de crédits à l’habitat en France, alors que la demande des ménages a continué de se modérer de manière graduelle.

This study analyses productive efficiency in banking and scale and scope economies using stochastic frontier analysis. The European banking sector underwent great changes during the period under study (1995-2000), featuring a marked increase in competition. Empirical results suggest that...

Risky investment projects make the coordination among small, uninformed investors hard to achieve, and generate inefficient low levels of investment. Several authors have pointed out the benefits to an economy from multiple avenues of financial intermediation. This paper explains endogenously...