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
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The banking systems of Germany, the UK and Spain form a spatial perspective: Lessons learned and what is to be done?
Franz Flögel,Stefan Gärtner +1 more
TL;DR: In this article, a cross-country comparison has identified Germany as having the most decentralised banking system, followed by Spain and the UK, as expected, and identified three factors of success contributing to the persistence of decentralized banking: I. Short operational and (especially) functional distance and embeddedness in supportive regional bank associations.
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The Europeanisation of Macroeconomic Policies and Financial Regulation in Italy
TL;DR: In this article, the authors investigate how and why two key domains of domestic political economy, macroeconomic policies and financial services regulation, have been Europeanised in Italy over the last decade.
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Financial structures, banking regulations, and export dynamics
TL;DR: In this article, the impact of financial structures and regulations on export dynamics using data from a large panel of countries over the 1997-2014 period was studied and it was shown that bank-oriented financial systems can boost the number of exporters more than market-oriented systems.
Risk Management for Households—the Democratization of Finance 1
TL;DR: The application of advanced risk management to the risks of the household offers many opportunities to improving human welfare as discussed by the authors. But, for such application to be effective, the complex and long-term nature of the basic household maximization problem must be understood, and psychological factors that prevent households' effective use of risk management tools to solve this problem.
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Past and Future Regulation to Prevent a Systemic Financial Crisis
TL;DR: In this paper, the authors argue that the disincentive approach is insufficient to deter financial managers looking for power, and some kind of segmentation needs to be introduced, as suggested by Paul Volcker.
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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.