Showing 1 - 10 of 1,248
We provide a comprehensive review of China's financial system, and explore directions of future development. First, the financial system has been dominated by a large banking sector. In recent years banks have made considerable progress in reducing the amount of non-performing loans and...
Persistent link: https://www.econbiz.de/10012460830
Financial systems are inherently fragile because of the very function which makes them valuable: liquidity transformation. Regulatory reforms can strengthen the financial system and decrease the risk of liquidity crises, but they cannot eliminate it completely. This leaves monetary policy with a...
Persistent link: https://www.econbiz.de/10012462427
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 way to distinguish financial systems. This paper...
Persistent link: https://www.econbiz.de/10012469571
Academics' view of the benefits of finance vastly exceeds societal perception. This dissonance is at least partly … explained by an under-appreciation by academia of how, without proper rules, finance can easily degenerate into a rent …-seeking activity. I outline what finance academics can do, from a research point of view and from an educational point of view, to …
Persistent link: https://www.econbiz.de/10012457772
finance becomes market-oriented, so that (3) affiliated firms are losing the special privilege of borrowing at a cheaper rate … asset-market arbitrage allowed the great run-up in equity and land prices in the 1980s …
Persistent link: https://www.econbiz.de/10012475885
) and stigma (the cost of having a bank's name revealed) are desirable to restore confidence. Lending facilities raise the …
Persistent link: https://www.econbiz.de/10012455893
There is a substantial literature arguing that financial development contributes to economic growth. In this paper, we contribute to this literature by examining the effect of state-level banking regulation on financial development and economic growth in the United States from 1900 to 1940....
Persistent link: https://www.econbiz.de/10012469149
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
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
. Although the study does not presume that finance is the most binding constraint to growth and socio-economic development in … banking sector today. Access to finance remains an important challenge, especially for the "stranded middle" (middle income … potentially boost competition, financial innovation, and access to finance with positive effects on growth and poverty reduction …
Persistent link: https://www.econbiz.de/10012460372