Objective – The purpose of this paper is to elucidate the financial resilience perspective in banks, with an aim to distinguish empirically between Islamic and Conventional Commercial Banks with respect to short term and long term financial resilience.Methodology/Technique – Panel data...

Cashless society, in which paper money and coins are replaced with virtual money, embodied in RFID, NFC and other electronic chips, or located in the ‘cloud', is fiction no more; it is nearby, and in some countries on the verge of full manifestation. Cashless society is marketed and promoted...

This paper considers money creation by banks and central banking in a model where a means of payment is issued by both the central bank and banks, and the private issuance is endogenous in competitive equilibrium. The economy lasts for two dates, but the central bank gets its purely nominal...

This Article compares the development of cross-border solutions for resolving and reorganizing commercial entities to those solutions available for financial institutions. This Article argues that the resolution regime for financial institutions needs to move forward from the existing...

This paper explores the basic question of whose monetary policy matters for banks' international lending. In the international context, monetary policies from several countries could come into play: the lender's, the borrower's, and that of a third country, the issuer of the currency in which...

This study provides evidence of bank heterogeneity in Colombiafor the period 2002-2014 and analyzes how bank-specific characteristics determine the bank-lending channel for monetary policy. Toanalyze bank heterogeneity, this study estimates technical (cost) efficiency using Stochastic Frontier...

The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card-not better. Demand for digital currency will thus be weak...

Before the invention of money (coin or paper) there was barter trading, a form of exchange without the use of a monetary medium such as coinage, paper money, or electronic cash (i.e. Bitcoin); Adam Smith (1776) described barter trade as primitive in his seminal “The Wealth of Nations” book....

The dollar's dominance as the world's reserve currency was inaugurated at the 1944 Bretton Woods conference where the agreement was signed by the 44 wartime allies, but the dollar's hegemony was solidified in 1971 when US President Nixon cut the dollar's link to gold. True, the fixed exchange...

This study analyses the achievement of 32 Indian states and union territories in the inclusiveness of financial system, their relative position, major emerging trends and computes the rate of growth during a period of 2000-01 to 2016-17. The level of inclusion is determined using technique of...