We use analyst earnings forecasts for banks to extract cost of capital measures. We find that the cost of equity and debt capital are decreasing in the Tier 1 ratio, whereas the total cost of capital is uncorrelated with the Tier 1 ratio. These findings suggest that investors adjust their...

This study investigates the effect information sharing has on financial sector development in 53 African countries for the period 2004-2011. Information sharing is measured with private credit bureaus and public credit registries. Hitherto unexplored dimensions of financial sector development...