This paper analyzes the consequences of alternative financial structures for financial efficiency and stability. The focus is on the organizational structure of banks. Alternative bank structures range from "narrow banks" to broad "universal banks". Each banking structure is assessed in its...

The basic worldwide financial safety net architecture provides for a system of similar institutions: a lender of last resort, deposit insurance, and prudential regulation. In countries whose banking systems suffer seriously from negative capital positions and overbanking, such as in some Latin...

Digital technologies play a major role in the profound changes that characterize political and economic regulations both within nation states and in international relations. They often provide the conditions for these evolutionary processes by means of new modes of information circulation, of...