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We document empirical support for a key micro-level channel --- innovation by young, private firms --- through which financial sector deregulation affects economic growth. We find that intrastate banking deregulation, which increased the local market power of banks, decreased the level and risk...
Persistent link: https://www.econbiz.de/10013035909
I study central supervision of local financial regulators in an economic union. Regulators each privately observe benefits from lenient local macroprudential policies. Separate deposit insurance funds allow no discretion to set policies because, with integrated financial markets, regulators...
Persistent link: https://www.econbiz.de/10012899109
Academy of Comparative Law 2018 and gives an overview of the regulation of crowdfunding in Germany and the typical design of … the relevant rules in prudential banking regulation and capital market law. It highlights disclosure requirements that … flow from both contractual obligations of the initiators of campaigns vis-à-vis contributors and securities regulation …
Persistent link: https://www.econbiz.de/10011793078
The unconventional monetary policy actions of the Federal Reserve during the recent Global Financial Crisis often involve implicit subsidies to banks. This paper offers a theory of the non-neutrality of money associated with capital injection into banks via nominal transfers, in an environment...
Persistent link: https://www.econbiz.de/10013120443
The unconventional monetary policy actions of the Federal Reserve during the recent financial crisis often involve recapitalization of banks. This paper offers a theory of the non-neutrality of money for policy actions taking the form of injecting capital into banks via nominal transfers, in an...
Persistent link: https://www.econbiz.de/10013120599
I present a model in which the bank simultaneously borrows from the households and lends to a firm. The bank can monitor the firms cash flow but the households cannot. To truthfully report the cash flows to the households, the bank needs to be exposed to runs. However, the bank underinvests in...
Persistent link: https://www.econbiz.de/10013089261
"regression discontinuity" setup. The study uses a total of 285 pairs of contiguous counties along 38 segments of such regulation …
Persistent link: https://www.econbiz.de/10013158565
regression discontinuity setup. The study uses a total of 285 pairs of contiguous counties along 38 segments of such regulation …
Persistent link: https://www.econbiz.de/10013316911
Persistent link: https://www.econbiz.de/10011856364
FinTech holds great potential for both financial inclusion and economic development in a wider sense. Digital financial … key priority areas necessary for regulatory and policy development in Uganda to address the challenge of facilitating … responsible development of inclusive digital finance. It draws upon insights, experiences, and best practices with respect to the …
Persistent link: https://www.econbiz.de/10012831902