Using household surveys and bank penetration data at the district-level in 2006 and 2009, this paper examines the impact of Equity Bank-a leading private commercial bank focusing on microfinance-on access to banking in Kenya. Unlike other commercial banks in Kenya, Equity Bank pursues distinct...

Extant literature suggests that bank monitoring improves corporate governance. This paper demonstrates that inefficiency in banking can also significantly reduce the equity capital markets' disciplinary power. Specifically, we show that in an environment in which the banking system is dominated...

Traditionally, financial systems have been bank-based or market-based. The efficiency properties of these systems are compared in various dimensions. These include risk sharing, information provision, funding new industries, corporate governance, and law, finance and politics. Both systems have...

Traditionally, financial systems have been bank-based or market-based. The efficiency properties of these systems are compared in various dimensions. These include risk sharing, information provision, funding new industries, corporate governance, and law, finance and politics. Both systems have...