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Relationship Banking and the Pricing of Financial Services

Calomiris, Charles - 2006

We investigate how banking relationships that combine lending and underwriting services affect the terms of lending, through both loan supply- and loan demand-side effects, and the underwriting costs of debt and equity issues. We capture and control for firm characteristics, including...

Persistent link: https://www.econbiz.de/10012466039

FinTech, BigTech, and the Future of Banks

Stulz, René M. - 2019

uneven playing field enables non-bank FinTech firms to challenge banks for specific products whose success is not tied to …

Persistent link: https://www.econbiz.de/10012480257

Financial Systems, Economic Growth, and Globalization

Rousseau, Peter L. - 2001

formal quantitative analysis. We begin with studies of the Dutch Republic, England, the U.S., France, Germany and Japan that … that the growth and increasing globalization of these economies might indeed have been 'finance-led.' …

Persistent link: https://www.econbiz.de/10012470401

Challenges in Banking the Rural Poor : Evidence from Kenya's Western Province

Dupas, Pascaline - 2012

Most people in rural Africa do not have bank accounts. In this paper, we combine experimental and survey evidence from … had two parts. In the first part, we waived the fixed cost of opening a basic savings account at a local bank for a random … evidence suggests that the main reasons people did not begin saving in their bank accounts are that: (1) they do not trust the …

Persistent link: https://www.econbiz.de/10012460808

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/10012456201

Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation

Philippon, Thomas - 2012

I provide a quantitative interpretation of financial intermediation in the U.S. over the past 130 years. Measuring separately the cost of intermediation and the production of financial services, I find that: (i) the quantity of intermediation varies a lot over time; (ii) intermediation is...

Persistent link: https://www.econbiz.de/10012460582

Risk Bearing, Implicit Financial Services and Specialization in the Financial Industry

Wang, J. Christina - 2008

This paper makes three points regarding the proper measurement of the output of financial intermediaries. Two of them concern the measurement of nominal financial output, especially banking output. First, we show that, to impute the nominal value of implicitly priced financial output, it is...

Persistent link: https://www.econbiz.de/10012464033

The Effect of the Tax Reform Act of 1986 on the Location of Assets in Financial Services Firms

Altshuler, Rosanne - 2000

This paper examines the effects of the Tax Reform Act of 1986 on the international location decisions of U.S. financial services firms. The Act included rule changes that made it substantially more difficult for U.S. firms to defer U.S. taxes on overseas financial services income held in low-tax...

Persistent link: https://www.econbiz.de/10012470834

Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007-09

Acharya, Viral V. - 2010

The global imbalance explanation of the financial crisis of 2007-09 suggests that demand for riskless assets from countries with current account surpluses created fragility in countries with current account deficits, most notably, in the United States. We examine this explanation by analyzing...

Persistent link: https://www.econbiz.de/10012462576

The Euro and Firm Restructuring

Bugamelli, Matteo - 2008

We test whether and how the adoption of the euro, narrowly defined as the end of competitive devaluations, has affected member states' productive structures, distinguishing between within and across sector reallocation. We find evidence that the euro has been accompanied by a reallocation of...

Persistent link: https://www.econbiz.de/10012464193