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Payments Crises and Consequences
Chen, Qian - 2020
Banking-system shutdowns during contractions scar economies. Four times in the last forty years, governors suspended payments from state-insured depository institutions. Suspensions of payments in Nebraska (1983), Ohio (1985), and Maryland (1985), which were short and occurred during expansions,...
Persistent link: https://www.econbiz.de/10012481281
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Liquidity Transformation and Fragility in the US Banking Sector
Chen, Qi - 2020
fragility manifests itself in stronger sensitivity of deposit flows to bank performance. A deterioration in the aggregate … conditions in the banking system makes the fragility within each bank stronger. We run multiple tests to show that depositors …
Persistent link: https://www.econbiz.de/10012481118
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Risky Investments with Limited Commitment
Cooley, Thomas F. - 2013
Over the last three decades there has been a dramatic increase in the size of the financial sector and in the compensation of financial executives. This increase has been associated with greater risk-taking and the use of more complex financial instruments. Parallel to this trend, the...
Persistent link: https://www.econbiz.de/10012459068
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Bank-Based or Market-Based Financial Systems : Which is Better?
Levine, Ross - 2002
For over a century, economists and policy makers have debated the relative merits of bank-based versus market …-based financial systems. Recent research, however, argues that classifying countries as bank-based or market is not a very fruitful … robustly linked with economic growth, there is no support for either the bank-based or market-based view …
Persistent link: https://www.econbiz.de/10012469571
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Financial Development in 205 Economies, 1960 to 2010
Čihák, Martin - 2013
This paper describes our construction of the Global Financial Development Database and uses the data to compare financial systems around the world. The database provides information on financial systems in 205 economies over the period from 1960 to 2010 and includes measures of (1) size of...
Persistent link: https://www.econbiz.de/10012459715
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The Financial Sector in Burundi
Nkurunziza, Janvier D. - 2012
that has survived the worst of the economic and political crises of the last decades is highly profitable. Bank …
Persistent link: https://www.econbiz.de/10012460372
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Financial Regulation in General Equilibrium
Goodhart, Charles A.E. - 2012
This paper explores how different types of financial regulation could combat many of the phenomena that were observed in the financial crisis of 2007 to 2009. The primary contribution is the introduction of a model that includes both a banking system and a "shadow banking system" that each help...
Persistent link: https://www.econbiz.de/10012460749
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China's Financial System and Economy : A Review
He, Zhiguo; Wei, Wei - National Bureau of Economic Research - 2022
China's financial system has been integral to its spectacular economic growth over the past 40 years. We review the recent literature on China's financial system and its connections to the Chinese economy based on the categories of Aggregate Financing to the Real Economy (AFRE), a broad measure...
Persistent link: https://www.econbiz.de/10013361979
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Common Fundamentals in the Tequila and Asian Crises
Tornell, Aaron - 1999
The cross-country variation in the severity of the crisis was largely determined by three fundamentals: the strength of the banking system, the real appreciation, and the international liquidity of the country. We also find that the rule that links fundamentals to the crisis severity has been...
Persistent link: https://www.econbiz.de/10012471655
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Collective Moral Hazard and the Interbank Market
Altinoglu, Levent; Stiglitz, Joseph E. - National Bureau of Economic Research - 2022
The concentration of risk within the financial system leads to systemic instability. We propose a theory to explain the structure of the financial system and show how it alters the risk taking incentives of financial institutions when the government optimally intervenes during crises. By issuing...
Persistent link: https://www.econbiz.de/10012938776