This book provides an evaluation of the industrial organization of banking with a focus on the interrelationship among bank behavior, market structure, and regulation. It addresses a wide range of public policy topics, including bank competition and risk, international banking, antitrust issues,...

This paper seeks to review events leading up to the financial crisis of 2008, including the massive government intervention into the U.S. financial markets, and then asks some questions and makes some recommendations about changes in specific areas of business practice and public policy as they...

Existing literature has focused attention on the impact of Basel I and similar capital requirement regulations on developed countries where such regulations were found to be effective in increasing capital ratios and reducing portfolio credit risk of commercial banks. In the present study, we...

Since the 1930s, when the U.S. Congress interposed government regulation of banks for market discipline, the role of the state in the American financial system has steadily grown. While politicians and executives from the financial services industry characterize the relationship as a...

The causes of the financial crisis of 2007-09 are many and varied. Indeed, the crisis may be viewed as the product of a perfect storm. This paper identifies the major culprits or sinners of the U.S. crisis and enumerates their more important sins. The culprits include central bankers, commercial...