Household credit, especially for mortgages, has doubled over the past years in the new European Union member countries, raising concerns about the economic and social consequences of household indebtedness in the event of a macroeconomic crisis. Using household survey data for 2005, 2006, and...

This paper discusses the different functions that capital markets and banks have in economic development, and it reviews the debate about marketbased vs. bank-based financial systems. Using data for a sample of 40 countries over the period 1975-98, the paper then shows that variation in both...

We analyze the credit supply and real sector effects of bank bail-ins by exploiting the unexpected failure of a major Portuguese bank and subsequent resolution. Using a matched firm-bank dataset on credit exposures and interest rates, we show that while banks more exposed to the bail-in...

En este artículo se analiza el impacto de la digitalización en la estructura del sistema bancario europeo. La reciente ola de innovación financiera, basada en las oportunidades generadas por la digitalización en términos de nuevos productos y servicios, se ha originado principalmente fuera...

This article discusses the impact of digitalisation on the structure of the European banking system. The recent wave of financial innovation, based on the opportunities created by digitalisation in terms of new products or new services, has come mostly from outside the incumbent banking system....

This paper uses survey data for 29,000 households from 29 transition economies to explore how the use of banking services is related to household characteristics, bank ownership structure and the development of the financial infrastructure. At the household level we find that the holding of a...

This paper provides an analysis of financial development and inclusion in developing Asia using data from a wide array of sources. We show that in terms of aggregate measures of financial development, the region as a whole has superior banking sector depth compared to other developing regions;...

This report elucidates the risk channels for EU economies associated with international financial integration and provides an overview of the macroprudential policy options that are available to address these risks. It builds on the main insights from the rich academic literature developed...

Financial innovation in the form of new delivery channels, products, and providers has helped push out the frontier of access to finance and thus increase the bankable and banked population. Mobile money and crowdfunding platforms are prime examples for this. The same financial innovation has...

This paper uses matched bank-firm-level data and the 2014 depreciation of the euro to show that exchange rate depreciations lead to increased bank loan supply of large banks with significant net foreign asset exposure. This increase in lending can be explained by a shift in credit towards both...