Im klassischen Modell von Diamond und Dybvig (1983) werden Bank-runs durch sich selbst erfüllende pessimistische Erwartungen der Anleger provoziert. Sie sind damit ein Sonnenflecken-Phänomen. Die spekulativen Runs können u.a. durch eine Einlagenversicherung vermieden werden. Allerdings...

Working paper on the commercialization of solar energy technology in developing countries. Discusses theoretical issues and energy policy implications, factors affecting supply and demand, incl. Investment and profitability, costs and the level of state intervention. Analyses in detail (1) water...

Boosting women’s relative control of income and other economic resources has so many consequences that positively enhance both gender equality and development that female economic empowerment may be close to being a “magic potion.†[Paper presented at the 100th Annual Meeting of...

Bank interest rate spreads in Solomon Islands are high by regional standards. This paper examines the determinants of bank interest rates including bank specific, banking sector, macroeconomic, and legal indicators. The results show that the scale of operation, overhead costs, concentration...

In this paper, we develop an alternative approach to estimate the size of the shadow banking system, using official data reported to the IMF complemented by other data sources. We base our alternative approach on the expansion of the noncore liabilities concept developed in recent literature to...

Macroprudential policies – caps on loan to value ratios, limits on credit growth and other balance sheets restrictions, (countercyclical) capital and reserve requirements and surcharges, and Pigouvian levies – have become part of the policy paradigm in emerging markets and advanced...

Die Analyse der so genannten Mikrostruktur von Finanzmärkten und ihr Einfluss auf das Marktergebnis haben in den letzten Jahren im Fokus der Finanzmarktforschung gestanden. Hinsichtlich der Entwicklung, Gestaltung und Regulierung von Finanzsystemen ist jedoch eine Erweiterung des Blickfeldes...

Peer-to-peer lending represents a low-cost credit market. This is an important novelty because functions traditionally exercised by banks such as lot-size transformation are now exercised in a marketplace by customers themselves. The present article explains the functionality of such...

There is a line of reasoning which argues that the main source of the current financial crisis is the cheap money of the past, which would have caused large global imbalances and another, that I share, is that something wrong has been occurring with overall financial intermediation. The...