This paper is concerned with the causes, timing and effects of banking sector restructuring and financial crisis in Turkey. The main focus of the study, however, is on labour market implications of the banking crisis and banking reform in recent years. The paper is organised as follows. Section...

Motivated by behavioural asset pricing theory, we introduce a statistical risk accounting model to characterize the compensating risk premium required to sustain minority banks' (MBs) altruistic motive to provide credit in underserved communities. Our model predicts that increased bank...

This paper highlights the spread of banking panics across countries, as the public reassesses governments' propensity to bailouts. Policymakers decide whether to rescue a failing banking sector, by weighing the costs of a collapse against the costs associated with raising taxes to finance a...

This paper uses a multinomial logit model to examine the factors associated with the occurrence of both self-fulfilling and fundamental banking crises. We find evidence indicating that the two types of crises are indeed different, and are explained by different variables. Self-fulfilling crises...

We propose a simple framework to explore how different market structures in the banking system affect credit allocation, and how deposits and number of entrepreneurs affect the equilibrium number of banks in the economy. We find that within the Marshallian aggregate surplus perspective, the...

We clarify and reinterpret the results of Benveniste and Wilhelm (1990) concerning the effect of a uniform price restriction on the proceeds of an IPO. If regular institutional investors are, on average, at least as well informed as ordinary retail investors then our corrected version of...

The financial crisis that began in 2008 has made Americans keenly aware of the enormous impact Wall Street has on the economic well-being of the nation and its citizenry. How did financial markets and institutions—commonly perceived as marginal and elitist at the beginning of the twentieth...

Amid economic crisis, more and more companies are facing financial deficits. In these circumstances it is necessary to find solutions to finance economical activity. Given the demand contraction and financial blockade, calling the long-term loans for development or at least maintaining the basic...

Le 25 janvier 2012, la Banque de France a reçu le professeur Robert F. Engle, prix Nobel d’économie en 2003. Le professeur Engle a présenté ses travaux sur la mesure du risque systémique et leurs applications à la zone euro.

The 2007-09 global financial crisis disrupted the provision of credit in Latin America less than previous crises. We identify key initial macroeconomic conditions that contributed to the higher resilience of real credit in Latin America during this episode. These relate to economies' capacity to...