SMEs have a different bank financing structure from that of large companies and thus do not enjoy the same financing conditions. This article examines the main factors that explain the interest rates on loans to SMEs and highlights the impact of the 2008 financial crisis on credit pricing policies.

Recently, there have been several government initiatives pointing to the electronisation of the voucher market, some of which have already reached the phase of implementation. In the interests of implementation at the society level which is efficient from technical as well as ‘business’...

We estimate time series of option implied Probabilities of Default (PoDs) for 19 major US financial institutions from 2002 to 2012. These PoDs are estimated as mass points of entropy based risk neutral densities and subsequently corrected for maturity dependence. The ob- tained time series are...

Mortgage payment protection insurance (hereafter MPPI) provides varying combinations of accident, sickness and unemployment insurance and is used to protect the mortgage payments of policyholders in the event of a fall in income. Recently the provision of this service in the UK has been heavily...

Recently, several studies have argued about the interactions of the real economy and financial system, as well as the importance of financial cycles in business cycle fluctuations. To date, there exists near consensus among central bankers, economists, and other scholars that the financial cycle...

The aim of this work is to study the degree of efficiency achieved by foreign banks installed in Spain between 2000 - 2020 throu gh 2 non - parametric models, one static, the data envelopment analysis (DEA), and another dynamic, the Malmquist Productivity Index (MPI). The results of DEA model...

Financial inclusion, for which the keystone is access to a bank account, is crucial to overcome the socioeconomic backwardness of African countries and to improve the African societies' well-being. The study concentrates on this continent to better understand the nature of its development in...

Aunque la crisis global condujo a la emergencia de nuevos hechos estilizados, y al uso de técnicas y herramientas provenientes de o tras disciplinas, no desencadenó una crisis del programa de investigación dominante en la macroeconomía financiera. Este artículo intenta explicar por qué los...

The document estimates the risk embraced by Colombian commercial banks, and establishes a measurement of excessive risk-taking that is consistent with such estimation. The construction of the excessive-risk measurement follows the basic efficient-portfolio framework, in which the variance of an...

Rotating Savings and Credit Associations (ROSCAs) are a common informal saving method recognized as a social protection system that can be used to deal with the monetary consequences of different types of economic shocks. This paper tests the hypothesis that current participation in ROSCAs will...