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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Finance and Growth: New Evidence and Policy Analyses for Chile
Ross Levine,María Carkovic +1 more
TL;DR: In this article, the authors empirically evaluate the impact of stock markets and banks on economic growth in Chile and conclude that Chile is clearly an outlier; it has less liquid stock market and lower levels of banking development than other rapidly growing countries.
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Financial structure and income inequality
TL;DR: The authors empirically investigated the link between financial structure and income inequality, using data for a panel of 97 economies over the period 1989-2012, and found that the relationship is not monotonic.
Journal ArticleDOI
Cross-Country Asymmetries in Euro Area Monetary Transmission: The Role of National Financial Systems
TL;DR: In this paper, the authors investigated how and to what extent the impact of monetary policy depends on national features of financial systems and examined whether the bank lending channel results in asymmetric loan supply reactions on the aggregate level across countries.
Chapter 8 The Macroeconomics of Imperfect Capital Markets: Whither Saving-Investment Imbalances?
TL;DR: In this paper, the authors present a competitive, flex-price model of saving-investment imbalances where deviations of the market interest rate from the Wicksellian natural rate gener- ate (disequilibrium) business cycles.
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Debt Ownership Structure and Legal System: An International Analysis
TL;DR: In this article, the authors identify the factors affecting bank debt use from an international sample of companies from Austria, Germany, Japan, Belgium, France, Italy, Holland, Spain, Portugal, Finland, Sweden and the USA.
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.
Journal ArticleDOI
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.