Showing 1 - 10 of 38
Both macro and (still scarce) micro evidence support the idea that a new economy is emerging in the US, not (yet) in Europe. Some have argued that the inadequacies of Europe�s financial system are an important part of the explanation. This paper, after surveying the existing literature on...
Persistent link: https://www.econbiz.de/10005609355
The Italian and German banking systems shared similar characteristics early in the 1990s but have evolved in different directions since then: Italy privatized its publicly-owned banks while Germany has maintained a large share of state-owned savings banks. Contemporaneously, banks in both...
Persistent link: https://www.econbiz.de/10008459744
considers many different aspects of the agglomeration - labor market relationship, including turnover, learning, matching, and …, there is a general positive relationship of turnover to local population density, which is consistent with theories of …
Persistent link: https://www.econbiz.de/10011099663
We examine the determinants of entry into Italian local banking markets during the period 1991-2002 and build a simple … that are closest to their pre-entry locations. We also find that large banks are more able to cope with distance …-related entry costs than small banks. Finally, we show that banks have become increasingly able to open branches in distant markets …
Persistent link: https://www.econbiz.de/10005111557
shifts in market shares; deregulation has fostered entry in local credit markets and branch expansion, which in turn have … credit from local banks. In this paper we investigate the consequences of consolidation and entry for these borrowers … banks portfolios. Entry has a relatively persistent negative impact on credit supply to small and medium-sized firms. Our …
Persistent link: https://www.econbiz.de/10005111563
The paper investigates the relationship between the underground economy and financial deepening. Entrepreneurs can only access external finance by disclosing credible information in formal documentation. This may be impossible for many informal producers, who lack proper accounting records....
Persistent link: https://www.econbiz.de/10005113532
During the last decades there has been a widespread relaxation of legal entry barriers into the banking industry, with … removed and branching has been substantially liberalized. This paper analyzes the determinants of entry decisions into local … credit markets using a unique data set before and after deregulation of the Italian banking industry. We estimate an entry …
Persistent link: https://www.econbiz.de/10005113555
investigates under what conditions increased entry of experts increases their incentives to exert effort. The results of the model … can be applied to examine the effects of entry into the markets for doctors, lawyers, professional consultancies. …
Persistent link: https://www.econbiz.de/10008527062
Why do some countries suffer from backward financial institutions and weak corporate governance rules? We show that, even if, overall, the economy would benefit corporate governance reforms, not all the agents would stand to gain from the improvement. In particular, entrepreneurs and firms that...
Persistent link: https://www.econbiz.de/10005609341
Post-war Italy provides an interesting case to test for recent contributions on economic growth which play down the relevance of physical capital per se and stress its complementarity with infrastructure and less tangible factors such as finance and human capital. In truth, behind the remarkable...
Persistent link: https://www.econbiz.de/10005486710