Open AccessJournal Article
Comparing financial systems.
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This article is published in Kyklos.The article was published on 2000-01-01 and is currently open access. It has received 603 citations till now.read more
Citations
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How Much Can Governments Borrow?: Financialization and Emerging Markets Government Borrowing Capacity
TL;DR: In this paper, the authors analyze the link between the ability to trade risk and borrowing capacity of emerging market governments, focusing on three case study countries: Brazil, Lebanon and Turkey.
Posted Content
Corporate Social Responsibility and Corporate Governance
Lorenzo Sacconi,Lorenzo Sacconi +1 more
TL;DR: In this paper, a social contract foundation of the multi-stakeholder and multi-fiduciary model is presented, and it is shown that CSR is a social norm that would endogenously emerge from the stakeholders' social contract seen as the first move in an equilibrium selection process that reaches the equilibrium state of a CG institution.
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Agricultural credit and economic growth in rural areas
TL;DR: In this paper, the authors evaluate the relation between credit by major lenders in rural areas and economic growth for the period 1991-2010 and find a positive association between agricultural lending and agricultural GDP growth per rural resident with additional billion in loans (about a third of the actual average).
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A framework for financial market development
TL;DR: In this article, a framework for examining the process of financial market development is proposed, anchored in studying the incentives facing the key players in financial markets, whose actions determine whether and how markets develop.
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Financial Development: Structure and Dynamics
TL;DR: This paper analyzed the bright and dark sides of the financial development process through the lenses of the four fundamental frictions to which agents are exposed -information asymmetry, enforcement, collective action, and collective cognition.
References
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Investor Protection and Corporate Governance
TL;DR: In this article, the authors argue that the legal approach is a more fruitful way to understand corporate governance and its reform than the conventional distinction between bank-centered and market-centered financial systems, and discuss the possible origins of these differences, summarize their consequences, and assess potential strategies of corporate governance reform.
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The Theory of Bank Risk Taking and Competition Revisited
John H. Boyd,Gianni De Nicolo +1 more
TL;DR: The authors show that existing theoretical analyses of this topic are fragile, since there exist fundamental risk-incentive mechanisms that operate in exactly the opposite direction, causing banks to become more risky as their markets become more concentrated.
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Bank concentration, competition, and crises: First results
TL;DR: In this paper, the impact of national bank concentration, bank regulations, and national institutions on the likelihood of a country suffering a systemic banking crisis was studied using data on 69 countries from 1980 to 1997.
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Competition and Financial Stability
Franklin Allen,Douglas Gale +1 more
TL;DR: The authors used a variety of models to address the question of what are the efficient levels of competition and financial stability, and found that different models provide different answers, and that sometimes competition increases stability, while in a second best world, concentration may be socially preferable to perfect competition.
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The Corporate Governance of Banks
Jonathan R. Macey,Maureen O'Hara +1 more
TL;DR: In this paper, the authors argue that commercial banks pose unique corporate governance problems for managers and regulators, as well as for claimants on the banks' cash flows, such as investors and depositors.