infrastructure promotes financial market growth, reduces the scope of traditional banking, and helps investors make more efficient … investment decisions. The theory presented explains why traditional banking predominates in the early stages of economic …

narrow banking with contemporary banking theories, and evaluates the potential consequences of narrow banking on finance and … financial debates and research. Narrow banking would prevent deposit-issuing banks from lending to the private sector and … restrict nonbank intermediaries from funding investments with demand deposits. Proponents of narrow banking defend it as a step …

SSEs work their effects through the intermediaries and estimates such effects using a large banking data panel. The study …