In the aftermath of the financial crisis, the foundations of modern and innovative financial systems developed over decades have suffered serious damage. This has triggered massive state interventions and has led authorities to revamp the regulatory structures and frameworks. While many voices...

The present paper is an attempt to analyse the future of banking in Europe in light of the following specific question: Will the traditional peculiarities of the continental European banking systems persist in the future or are they more likely to disappear in the wake of the evident and serious...

This paper discusses the effect of capital regulation on the risk taking behavior of commercial banks. We first theoretically show that capital regulation works differently in different market structures of banking sectors. In lowly concentrated markets, capital regulation is effective in...

There have been lively political debates about savings banks as long as this type of financial institutions has existed. The focus of these debates have been two of the characteristic features of savings banks: They have always pursued financial as well as non-financial objectives, and until a...

1. Financial innovation and the economics of banking and the financial system / David T. Llewellyn -- 2. Is financial innovation still a relevant issue? / Luisa Anderloni and Paola Bongini -- 3. Microfinance, innovations and commercialisation / Reinhard H. Schmidt -- 4. Technological innovation...

A financial system can only perform its function of channelling funds from savers to investors if it offers sufficient assurance to the providers of the funds that they will reap the rewards which have been promised to them. To the extent that this assurance is not provided by contracts alone,...

The turbulence in the international financial markets in the 1980s inspired the idea that independent academics might be in a position to make a contribution to the improvement of regulation and thus ultimately also to the stability of the national financial sector in the United States. This led...