Deregulation, technological change, and increased competitive rivalry are transforming U.S. commercial banking from an industry dominated by thousands of small, locally focused banks into an industry where a handful of large banks could potentially span the nation and control the majority of its...

This paper critically reviews the literature examining the role of central banks in addressing systemic risk. We focus on how the growth in derivatives markets might affect that role. Analysis of systemic risk policy is hampered by the lack of a consensus theory of systemic risk. We propose a...

We review how deregulation, technological advance, and increased competitive rivalry have affected the size and health of the U.S. community banking sector and the quality and availability of banking products and services. We then develop a simple theoretical framework for analyzing how these...

This paper provides novel empirical evidence on the impact of bank internal organization structure characteristics on costs and productive efficiency. The specific internal organization characteristics examined include centralized versus decentralized 1) decision‐making, 2) service delivery...

The objective of this paper is to examine the empirical link between banking and financial system structure and economic growth, by constructing a cross‐country regression model using data over the 1970–1988 period, for a diverse set of countries. We extend the existing literature by...