Around the world, large corporations usually have controlling owners, who are usually very wealthy families. Outside …

Are market-based or bank-based financial systems better at financing the expansion of industries that depend heavily on … industries? We find evidence for neither the market-based nor the bank-based hypothesis. While legal system efficiency and … bank-based or market-based system per se does not seem to matter much …

Why is agricultural productivity so low in poor countries relative to the rest of the world? Is it due to geography or …

structures plausibly substitute for weak market institutions in economies undergoing rapid early-stage industrialization. They …

relationship between the market structure of the banking industry and bank fragility, this paper studies the impact of bank …

demonstrate granular effects in the banking sector on macroeconomic outcomes. The presence of big banks measured by high market …

This paper examines the market for catastrophe event risk -- i.e., financial claims that are linked to losses … associated with natural hazards, such as hurricanes and earthquakes. This market is in transition as new approaches for … transferring risk are being explored. The paper studies several recent transactions by USAA which use reinsurance capacity from …