Showing 1 - 10 of 513
Using comprehensive loan-level data in China, we investigate how the deregulation on bank entry barriers alters local …
Persistent link: https://www.econbiz.de/10014256421
This paper builds on the landmark contribution of Glosten (1994) by treating the determination of limit order supply schedules as an exercise in asset pricing theory with the possible sizes of incoming market orders as the value-relevant states of nature, yielding an analogue of the Fundamental...
Persistent link: https://www.econbiz.de/10012772385
We investigate the idea that stock-market participation is influenced by social interaction. We build a simple model in which any given 'social' investor finds it more attractive to invest in the market when the participation rate among his peers is higher. The model predicts higher...
Persistent link: https://www.econbiz.de/10012787652
The Nigerian banking system was in crisis for much of the 1990's and early 2000's. The reforms of 2005 were ambitious in simultaneously attempting to address safety, soundness, and accessibility. This paper uses published and new survey data through 2008 to investigate whether bank consolidation...
Persistent link: https://www.econbiz.de/10013128269
With extensive country- and firm-level data sets we first document that the financial sectors of most sub-Saharan African countries remain significantly underdeveloped by the standards of other developing countries. We also find that population density appears to be considerably more important...
Persistent link: https://www.econbiz.de/10013107224
This essay examines how the Banking Acts of the 1933 and 1935 and related New Deal legislation influenced risk taking in the financial sector of the U.S. economy. The analysis focuses on contingent liability of bank owners for losses incurred by their firms and how the elimination of this...
Persistent link: https://www.econbiz.de/10013085120
As a result of debt enforcement problems, many high-productivity firms in emerging economies are unable to pledge enough future profits to their creditors and this constrains the financing they can raise. Many have argued that, by relaxing these credit constraints, reforms that strengthen...
Persistent link: https://www.econbiz.de/10013225009
Banking reforms--that reduced interest rates--boosted college enrollment rates among able students from middle class families. We define "able" students as those with learning aptitude scores in the top two-thirds of the U.S. population. We define "middle class" as families in which both parents...
Persistent link: https://www.econbiz.de/10013076856
, a level that China should achieve by or soon after 2015. Among our more provocative findings is that growth slowdowns …
Persistent link: https://www.econbiz.de/10013127765
To prepare for the 2008 Olympic Games, China adopted a number of radical measures to improve air quality. Using …
Persistent link: https://www.econbiz.de/10013127978