This book analyzes the set of forces driving the global financial system toward a period of radical transformation and explores the transformational challenges that lie ahead for global and regional or local banks and other financial intermediaries. It is explained how these challenges derive...

This book presents the methodology and applications of Data Envelopment Analysis (DEA) in measuring productivity, efficiency and effectiveness in Financial Services firms such as banks, bank branches, stock markets, pension funds, mutual funds, insurance firms, credit unions, risk tolerance, and...

This paper considers the optimal taxation of savings intermediation and payment services in a dynamic general equilibrium setting, when the government can also use consumption and income taxes. When payment services are used in strict proportion to final consumption, and the cost of...

This book is a practical guide to the evolving landscape of finance, highlighting how it’s changing our relationship with money and how financial technology, together with macroeconomic and societal change, is rewriting the story of how business is done in developing economies. Financial...

The increasing pervasiveness of technology-driven firms that offer banking services has led to a growing pressure on traditional banks to modernize their core business activities. Banks attempt to confront the challenges of digitalization by cooperating with financial technology firms (fintechs)...

The Encyclopedia of Finance, Second Edition, comprised of over 1000 individual definitions and chapters, is the most comprehensive and up-to-date resource in the field, integrating the most current terminology, research, theory, and practical applications. Showcasing contributions from an...

Terms, definitions and short essays -- Deposit insurance schemes -- Gramm-Leach-Bailey Act: creating a new bank for a new millennium -- Comparative analysis of zero-coupon and coupon-pre-funded bonds -- Intertemporal risk and currency risk -- Credit derivatives -- international parity conditions...

An important question is whether VAT exemption of financial services is a desirable property or whether it is justified only due to practical and administrative necessity. This paper singles out a number of financial services for discussion of this issue in a context allowing for other taxes and...

Banking across borders has risen substantially over the past two decades. Yet there is significant heterogeneity in the international and global activities of banks across countries. This paper develops and tests a theoretical model that explains this variation from an international trade theory...