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Fintech, Regulatory Arbitrage, and the Rise of Shadow Banks
Buchak, Greg - 2017
Shadow bank market share in residential mortgage origination nearly doubled from 2007-2015, with particularly dramatic growth among online “fintech” lenders. We study how two forces, regulatory differences and technological advantages, contributed to this growth. Difference in difference...
Persistent link: https://www.econbiz.de/10012960154
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Can Mobile-Linked Bank Accounts Bolster Savings? Evidence from a Randomized Controlled Trial in Sri Lanka
de Mel, Suresh - 2018
In developing economies, mobile-linked services have the potential to significantly reduce transaction costs and … introducing a product that permits Sri Lankan households to deposit mobile airtime balances into a formal bank using a new mobile … be a significant barrier to increasing deposits, limiting the potential gains of mobile-linked savings products for …
Persistent link: https://www.econbiz.de/10012906765
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Research and Impacts of Digital Financial Services
Karlan, Dean S. - 2018
A growing body of rigorous research shows that financial services innovations can have important positive impacts on wellbeing, but also that many do not. We first describe the latest evidence on what works in financial inclusion. Second, we summarize research on key financial market failures...
Persistent link: https://www.econbiz.de/10012935529
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Quantifying Equilibrium Network Externalities in the Ach Banking Industry
Ackerberg, Daniel A. - 2010
We seek to determine the causes and magnitudes of network externalities for the automated clearinghouse (ACH) electronic payments system. We construct an equilibrium model of customer and bank adoption of ACH. We structurally estimate the parameters of the model using an indirect inference...
Persistent link: https://www.econbiz.de/10012760684
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Fees and Surcharging in Automatic Teller Machine Networks : Non-Bank ATM Providers Versus Large Banks
Croft, Elizabeth W. - 2010
This paper develops a spacial model of ATM networks to explore the implications for banks and non-banks of interchange fees, foreign fees and surcharges applied to transactions by customers at other than an own-bank ATM. Surcharging raises the price (foreign fee plus surcharge) paid by customers...
Persistent link: https://www.econbiz.de/10012762797
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Decoupling at the Margin : The Threat to Monetary Policy from the Electronic Revolution in Banking
Friedman, Benjamin M. - 2010
The threat to monetary policy from the electronic revolution in banking is the possibility of a decoupling' of the operations of the central bank from markets in which financial claims are created and transacted in ways that, at some operative margin, affect the decisions of households and firms...
Persistent link: https://www.econbiz.de/10012763283
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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/10012985592
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Mobile Banking : The Impact of M-Pesa in Kenya
Mbiti, Isaac M. - 2015
M-Pesa is a mobile phone based money transfer system in Kenya which grew at a blistering pace following its inception …
Persistent link: https://www.econbiz.de/10013037888
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Financial Innovation and the Transactions Demand for Cash
Alvarez, Fernando - 2012
impact of financial innovation on money demand, the welfare cost of inflation, the gains of disinflation and the benefit of …
Persistent link: https://www.econbiz.de/10012755329
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Macro-Economic Management in an Electronic Credit/Financial System
Stiglitz, Joseph E. - 2017
Modern technology provides the basis of an efficient low-cost electronic payments as an alternative to the current system where fiat money is the medium of exchange. This paper explores possible macro-economic implication, showing how such a financial system might enhance government's ability to...
Persistent link: https://www.econbiz.de/10012965440