removing barriers to bank entry on bank competition and economic growth. As governments were not concerned about systemic … stability in this period, we are able to isolate the effects of bank competition from those of state implicit guarantees. We … find that the introduction of free banking laws stimulated the creation of new banks and led to more bank failures. Our …

This paper examines the implications of foreign bank penetration on economic growth from the perspective of resource … allocation in host countries. We use aggregate banking data, constructed from bank-level balance sheets and income statement … effect of gross fixed capital formation on output growth is higher in an economy with a more pronounced level of foreign bank …

We report evidence that bank liquidity ratios (liquid assets as a percentage of total assets) decrease during the … is into place: a one-unit increase in an index of securities market liberalization leads to a drop in the bank liquidity …

crises predate the establishment of a central bank in the United States, one could well quibble about the claim that the …

led to the failure of numerous brokerage houses, an antecedent to the modern investment bank. For the Panic of 1907, panic …