New security designs, improvements in computer telecommunications technology and advances in the theory of finance have led to revolutionary changes in the structure of financial markets and institutions. This paper provides a functional perspective on the dynamics of institutional change and...

New security designs, improvements in computer telecommunications technology and advances in the theory of finance have led to revolutionary changes in the structure of financial markets and institutions. This paper provides a functional perspective on the dynamics of institutional change and...

This handbook provides an overview and analysis of state-of-the-art research in banking written by leading researchers in the field. It strikes a balance between abstract theory, empirical analysis, and practitioner and policy-related material.