Abstract: The financial crisis has been attributed partly to perverse incentives for traders at banks and has led policy makers to propose regulation of banks’ remuneration packages. We explain why poor incentives for traders cannot be fully resolved by only regulating the bank’s top...

We survey the extant literature on the effects of both a bank’s organizational structure and the physical distance separating it from the lender on lending decisions. Banks do engage in spatial pricing, where the underlying mechanism can be both transportation costs and information...

Outsourcing and its corollary, offshoring, often mistaken, go on growing, in spite of some ebbing away. It has been especially the case for the financial services industry over the last couple of years. The insurance sector is no exception, even though the trend started off later than in the...

Offshoring goes on growing, in spite of some ebbing away. It has been especially the case for the financial services industry over the last couple of years. As a result of this trend, it is the double stake of globalization and industries specialization that is being addressed. The comprehensive...

Private sector employment rose by over a million in the past three years. Commentators often interpret this number – which is a net figure – as ‘job creation’. But how many jobs really are created each year, and conversely how many are lost? How has this changed with...

The recent financial crisis has clearly shown that the relationship between bank internationalization and risk is complex. Multinational banks can benefit from portfolio diversification, reducing their overall riskiness, but this effect can be offset by incentives going in the opposite...

The severity and depth of the recent financial crisis hit many by surprise. Despite warning signs, the financial system seems to have been unable to aggregate existing information. As the events of Fall 2008 showed, many investors were caught off guard by the large number of banks collapsing...

Using data on single credit relationships, the paper shows that after a merger or an acquisition, involving two or more banks which had previously jointly financed the same firm, the share of credit granted to the client by the consolidated intermediaries moderately decreases over three years....

Cet article étudie dans quelle mesure la concurrence entre les banques peut affecter leur efficience au sein de l'UEMOA. Théoriquement, l'effet net de la concurrence bancaire sur l'efficience est indéterminée, en particulier dans le cas des pays en développement. D'une part, la concurrence...

The financial crisis has been attributed partly to perverse incentives for traders at banks and has led policy makers to propose regulation of banks' remuneration packages. We explain why poor incentives for traders cannot be fully resolved by only regulating the bank's top executives, and why...