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On Fintech and Financial Inclusion
Philippon, Thomas - 2019
The cost of financial intermediation has declined in recent years thanks to technological progress and increased competition. I document this fact and I analyze two features of new financial technologies that have stirred controversy: returns to scale, and the use of big data and machine...
Persistent link: https://www.econbiz.de/10012480275
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Mobile Money, Interoperability, and Financial Inclusion
Brunnermeier, Markus Konrad; Limodio, Nicola; … - National Bureau of Economic Research - 2023
This paper investigates the tradeoff between competition and financial inclusion resulting from the vertical integration between mobile network and money operators. Joining newly assembled data on mobile money fees through the WayBack machine, with sources on network coverage and financials, we...
Persistent link: https://www.econbiz.de/10014372453
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Banking and Insurance
Haubrich, Joseph G. - 1984
. However, a financial institution -- perhaps best viewed as a savings bank -- can provide partial insurance by generating a … the bank faces a tradeoff between provision of insurance and maintenance of private incentives …
Persistent link: https://www.econbiz.de/10012477783
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Risk Management in Financial Institutions
Rampini, Adriano A. - 2019
We study risk management in financial institutions using data on hedging of interest rate and foreign exchange risk. We find strong evidence that institutions with higher net worth hedge more, controlling for risk exposures, both across institutions and within institutions over time. For...
Persistent link: https://www.econbiz.de/10012479649
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Big Banks and Macroeconomic Outcomes : Theory and Cross-Country Evidence of Granularity
Bremus, Franziska - 2013
. Using this framework, we show conditions under which idiosyncratic shocks to bank lending can generate aggregate … sector for many countries is indeed granular, as the right tail of the bank size distribution follows a power law. We then … concentration is associated with a positive and significant relationship between bank-level credit growth and aggregate growth of …
Persistent link: https://www.econbiz.de/10012459568
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The Design of Financial Systems : Towards a Synthesis of Function and Structure
Merton, Robert C. - 2004
This paper proposes a functional approach to designing and managing the financial systems of countries, regions, firms, households, and other entities. It is a synthesis of the neoclassical, neo-institutional, and behavioral perspectives. Neoclassical theory is an ideal driver to link science...
Persistent link: https://www.econbiz.de/10012468071
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The FinTech Opportunity
Philippon, Thomas - 2016
This paper assesses the potential impact of FinTech on the finance industry, focusing on financial stability and access to services. I document first that financial services remain surprisingly expensive, which explains the emergence of new entrants. I then argue that the current regulatory...
Persistent link: https://www.econbiz.de/10012456201
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Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation
Philippon, Thomas - 2012
I provide a quantitative interpretation of financial intermediation in the U.S. over the past 130 years. Measuring separately the cost of intermediation and the production of financial services, I find that: (i) the quantity of intermediation varies a lot over time; (ii) intermediation is...
Persistent link: https://www.econbiz.de/10012460582
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AIDS, "Reversal" of the Demographic Transition and Economic Development : Evidence from Africa
Kalemli-Ozcan, Sebnem - 2006
Using country- and region-level data, I investigate the effect of HIV/AIDS on fertility in Africa during 1985 …
Persistent link: https://www.econbiz.de/10012466487
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National Institutions and Subnational Development in Africa
Michalopoulos, Stelios - 2012
We investigate the role of national institutions on subnational African development in a novel framework that accounts both for local geography and cultural-genetic traits. We exploit the fact that the political boundaries in the eve of African independence partitioned more than two hundred...
Persistent link: https://www.econbiz.de/10012460385