competition and enhancing the quality of regulation. Other key policies involve fully implementing the recent insolvency reforms …, building an innovation system, overcoming problems in the banking sector and enhancing the quality of public investment through …

economy and compares abilities of market-based and bank-based financial systems in processing the shock. Unregulated banking … improve the performance of the banking system. …

growth rate increases inequality, as measured by both the Gini index and the top-income shares. To establish the effect on …

that the capital stock is now declining, hurting potential output growth. Raising investment will hinge on improving …-ups and innovative SMEs, overcoming problems in the banking sector and restarting lending to firms in addition to diversifying …

I study the relation between shadow banking and financial stability in an economy in which banks are susceptible to … deposits while commercial banks issue both insured and uninsured deposits. The effect of shadow banking on financial stability … high, then the presence of a shadow banking sector is detrimental to financial stability; shadow banking creates systemic …

Spain has chronically low productivity growth, which undermines its ability to generate higher living standards …. Important contributors to low productivity growth are the misallocation of capital to low productivity firms and under … investment would also help. This could be done by reducing regulatory barriers that hold back competition, improving the …

findings are the following: first, a fully-funded DIF would be sufficient to cover payouts even in a severe banking crisis …. Second, risk-based contributions can and should internalise specificities of banks and banking systems. This would tackle … moral hazard and facilitate moving forward with risk sharing measures towards the completion of the Banking Union in …