We investigate the connections between bank capital regulation and the prevalence of lightly regulated nonbanks (shadow banks) in the U.S. corporate loan market. For identification, we exploit a supervisory credit register of syndicated loans, loan-time fixed-effects, and shocks to capital...

Our knowledge about microfinance in developing countries has been greatly enriched in recent years by the experience of numerous institutions. Different sound technologies and practices of financial services to all segments of the population have emerged; there is no single best practice or...