The goal of this paper is to investigate access to financial services and prospects for the wealth assimilation of immigrants by studying the financial market behavior of U.S. immigrants, compared to the native-born. Compared to similar natives, immigrants are less likely to own a wide range of...

College students are facing a number of financial challenges, including rising college costs and subsequent escalation in student borrowing to finance their education. Financial aid has not kept pace with rising college costs, and fewer parents are helping to cover these costs, because they...

This study provides new evidence on the role of financial development in accounting for economic growth. To derive feasible policy implications, we estimate not only unbalanced panel regressions with period fixed effects, but also variance decompositions of annual GDP growth rates to examine...

The objective of this paper is to examine the impact of concurrent capital and liquidity constraints. The financial crisis of 2008 prompted Basel III, which addresses both capital and liquidity requirements of banks. In an effort to understand the policy efficacy of Basel III, it is important...

Business incubation encourages new business formation and offers the potential to improve emerging market economies. Business incubation is a system of routines for creating and improving survival rates and growth of new businesses. Incubation originated in developed economies and is now...

This paper highlights the major developments and structural changes in the Middle East and North Africa (MENA) markets. Noticeable growth was observed in these markets during the last decade. This is evidenced from the record growth rates in market capitalization, number of listed companies,...

The ability to predict bank failure has become much more important since the mortgage foreclosure crisis began in 2007. The model proposed in this study uses proxies for the regulatory standards embodied in the so-called CAMELS rating system, as well as several local or national economic...

Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. This paper demonstrates widespread financial illiteracy...

As it evolves around the world, Social Security financed on pay-as-you-go (PAYG) basis increasingly becomes a Ponzi scheme due to aging populations. The main objective of Social Security is to insure seniors against an uncertain life span. However, as the probability of being a net loser rises...

This study employs both contingent and non-contingent claim models to test for the existence of market discipline hypothesis for derivative contracts in U.S. banking industry. In addition to the Capital Asset Pricing Model (CAPM) measure of systematic risk and standard deviation of a bank’s...