R Levine… - The American Economic Review, 1992 - JSTOR
A vast literature uses cross-country regressions to search for empirical linkages between
long-run growth rates and a variety of economic policy, political, and institutional indicators.
This paper examines whether the conclusions from existing studies are robust or fragile to ...
RG King… - The Quarterly Journal of Economics, 1993 - qje.oxfordjournals.org
Abstract We present cross-country evidence consistent with Schumpeter's view that the
financial system can promote economic growth, using data on 80 countries over the 1960–
1989 period. Various measures of the level of financial development are strongly ...
R Levine - Journal of economic literature, 1997 - JSTOR
ECONOMISTS HOLD startlingly different opinions regarding the importance of the financial
system for economic growth. Walter Bagehot (1873) and John Hicks (1969) argue that it
played a critical role in igniting industrialization in England by facilitating the mobilization ...
W Easterly… - The Quarterly Journal of Economics, 1997 - qje.oxfordjournals.org
Abstract Explaining cross-country differences in growth rates requires not only an
understanding of the link between growth and public policies, but also an understanding of
why countries choose different public policies. This paper shows that ethnic diversity helps ...
R Levine… - American economic review, 1998 - JSTOR
Do well-functioning stock markets and banks promote long-run economic growth? This
paper shows that stock market liquidity and banking development both positively predict
growth, capital accumulation, and productivity improvements when entered together in ...
R Levine, N Loayza… - Journal of monetary Economics, 2000 - nccr-finrisk.uzh.ch
Abstract This paper evaluates (1) whether the exogenous component of" nancial
intermediary development in# uences economic growth and (2) whether cross-country di!
erences in legal and accounting systems (eg, creditor rights, contract enforcement, and ...
RG King… - Journal of Monetary economics, 1993 - Elsevier
Abstract How do financial systems affect economic growth? We construct an endogenous
growth model in which financial systems evaluate prospective entrepreneurs, mobilize
savings to finance the most promising productivity-enhancing activities, diversify the risks ...
T Beck, R Levine… - Journal of financial economics, 2000 - Elsevier
This paper evaluates the empirical relation between the level of financial intermediary
development and (i) economic growth,(ii) total factor productivity growth,(iii) physical capital
accumulation, and (iv) private savings rates. We use (a) a pure cross-country instrumental ...
R Levine - Handbook of economic growth, 2005 - Elsevier
Abstract This paper reviews, appraises, and critiques theoretical and empirical research on
the connections between the operation of the financial system and economic growth. While
subject to ample qualifications and countervailing views, the preponderance of evidence ...
T Beck, A Demirgüç-Kunt… - The World Bank Economic …, 2000 - World Bank
Abstract This article introduces a new database of indicators of financial structure and
financial development across countries and over time. The database is unique in that it
combines a wide variety of indicators that measure the size, activity, and efficiency of ...
W Easterly… - Journal of monetary economics, 2003 - Elsevier
Does economic development depend on geographic endowments like temperate instead of
tropical location, the ecological conditions shaping diseases, or an environment good for
grains or certain cash crops? Or do these endowments of tropics, germs, and crops affect ...
JR Barth, G Caprio… - Journal of Financial intermediation, 2004 - Elsevier
This paper uses our new database on bank regulation and supervision in 107 countries to
assess the relationship between specific regulatory and supervisory practices and banking-
sector development, efficiency, and fragility. The paper examines:(i) regulatory restrictions ...
W Easterly… - The World Bank Economic Review, 2001 - World Bank
Abstract The article documents five stylized facts of economic growth.(1) The “residual”(total
factor productivity, tfp) rather than factor accumulation accounts for most of the income and
growth differences across countries.(2) Income diverges over the long run.(3) Factor ...
R Levine - Journal of financial Intermediation, 1999 - Elsevier
This paper examines how the legal environment affects financial development, and then
asks how this in turn is linked to long-run economic growth. Financial intermediaries are
better developed in countries with legal and regulatory systems that (1) give a high priority ...
W Easterly, R Levine… - 2003 - nber.org
The Burnside and Dollar (2000, AER) finding that aid raises growth in a good policy
environment has had an important influence on policy and academic debates. We conduct a
data gathering exercise that updates their data from 1970-93 to 1970-97, as well as filling ...
R Levine - 2002 - nber.org
For over a century, economists and policy makers have debated the relative merits of bank-
based versus market-based financial systems. Recent research, however, argues that
classifying countries as bank-based or market is not a very fruitful way to distinguish ...
R Levine - Journal of Money, Credit and Banking, 1998 - JSTOR
This paper examines the relationship between the legal system and banking development
and traces this connection through to long-run rates of per capita GDP growth, capital stock
growth, and productivity growth. The data indicate that countries where the legal system (1 ...
M Carkovic… - Does foreign direct investment promote …, 2005 - books.google.com
With commercial bank lending to developing economies drying up in the 1980s, most
countries eased restrictions on foreign direct investment (FDI) and many aggressively
offered tax incentives and subsidies to attract foreign capital (Aitken and Harrison 1999; ...
T Beck… - Journal of Banking & Finance, 2004 - Elsevier
This paper investigates the impact of stock markets and banks on economic growth using a
panel data set for the period 1976–1998 and applying recent generalized-method-of
moments techniques developed for dynamic panels. On balance, we find that stock ...
JR Barth, G Caprio… - 2001 - books.google.com
Policy Research Working Paper 2588 Summary findings International consultants on bank regulation
and supervision for developing countries often base their advice on how their home country does
things, for lack of information on practice in other countries. Recommendations for reform ...
A Demirgüç-Kunt… - 1999 - books.google.com
Policy Research Working Paper 2143 Summary findings What are the relative advantages and
disadvantages of bank-based financial systems (as in Germany and Japan) and market-based
financial systems (as in England and the United States). Does financial structure matter? ...
R Levine… - The World Bank Economic Review, 1996 - World Bank
Abstract Is the financial system important for economic growth? One line of research argues
that it is not; another line stresses the importance of the financial system in mobilizing
savings, allocating capital, exerting corporate control, and easing risk management. ...
JR Barth, G Caprio… - 2008 - books.google.com
This volume assembles and presents a new database on bank regulation in over 150
countries (included also on CD). It offers the first comprehensive cross-country assessment
of the impact of bank regulation on the operation of banks, and assesses the validity of the ...
R Levine - 1990 - books.google.com
The Policy, Research, and External Affairs Complex distributes PRE Working Papers to
disseminate the findings of work in progress and to encourage the exchange of ideas
among Bank staff and all others interested in development issues. Ti. c^ papers cany the ...
T Beck… - Journal of Financial Economics, 2002 - Elsevier
Are market-based or bank-based financial systems better at financing the expansion of
industries that depend heavily on external finance, facilitating the formation of new
establishments, and improving the efficiency of capital allocation across industries? We ...
JR Barth, G Caprio Jr… - 2001 - nber.org
Financial systems in countries throughout the world range from fairly rudimentary to quite
sophisticated and from extremely fragile to relatively stable. A growing number of studies
provide empirical evidence that wellfunctioning financial systems accelerate long-run ...
T Beck, A Demirgüç-Kunt… - Journal of Financial Economics, 2003 - Elsevier
Using a sample of 70 former colonies, this paper assesses two theories regarding the
historical determinants of financial development. The law and finance theory holds that legal
traditions, brought by colonizers, differ in terms of protecting the rights of private investors ...
T Beck, A Demirguc-Kunt… - 2002 - nber.org
New research suggests that cross-country differences in legal origin help explain differences
in financial development. This paper empirically assesses two theories of why legal origin
influences financial development. First, the political'channel stresses that (i) legal ...
A Demirgüç-Kunt… - The World Bank Economic Review, 1996 - World Bank
Abstract World stock markets are booming, and emerging stock markets account for a
disproportionate share of this growth. Yet economists lack a common concept or measure of
stock market development. This article collects and compares a broad array of indicators ...
A Demirgüç-Kunt… - 2004 - books.google.com
This is the first broad cross-country assessment of the ties between financial structure—the
mix of financial instruments, institutions, and markets in a given economy—and economic
growth since Raymond Goldsmith's 1969 landmark study. Most studies focus on ...
A Demirguc-Kunt, L Laeven… - 2003 - nber.org
This paper examines the impact of bank regulations, market structure, and national
institutions on bank net interest margins and overhead costs using data on over 1,400 banks
across 72 countries while controlling for bank-specific characteristics. The data indicate ...
HJ Edison, R Levine, L Ricci… - 2002 - nber.org
This paper uses new data and new econometric techniques to investigate the impact of
international financial integration on economic growth and also to assess whether this
relationship depends on the level of economic development, financial development, legal ...
T Beck, A Demirguc-Kunt… - 2004 - nber.org
While substantial research finds that financial development boosts overall economic growth,
we study whether financial development disproportionately raises the incomes of the poor
and alleviates poverty. Using a broad cross-country sample, we distinguish among ...
RG King… - Carnegie-Rochester Conference Series on Public …, 1994 - Elsevier
Abstract This paper critically evaluates the roles of investment and physical capital
accumulation in economic growth and development. Should a modern version of capital
fundamentalism—where capital and investment are viewed as the primary determinants of ...
R Levine - International financial markets: Harmonization versus …, 1996 - econ.brown.edu
Can foreign banks play an important role in the economic growth of developing countries?
This question asks two things: Does a country's level of financial development play an
important role in determining the rate of economic growth, and does liberalizing ...
JH Boyd, R Levine… - Journal of Monetary Economics, 2001 - Elsevier
A growing theoretical literature describes mechanisms whereby even predictable increases
in the rate of inflation interfere with the ability of the financial sector to allocate resources
effectively. This paper empirically assesses these predictions. The evidence indicates that ...
T Beck… - Handbook of new institutional economics, 2005 - Springer
A burgeoning literature finds that financial development exerts a first-order impact on long-
run economic growth. Levine and Zervos (1998) show that banking and stock market
development are good predictors of economic growth. 1 At the microeconomic level, ...
R Levine… - The American Economic Review, 1993 - JSTOR
Economists have been seeking to comprehend why some countries are rich and others poor
for well over 200 years. A better understanding of the national policies associated with long-
run growth would both contribute to our ability to explain cross country differences in per ...
T Beck, A Demirgüç-Kunt… - Journal of Banking & Finance, 2006 - Elsevier
Motivated by public policy debates about bank consolidation and conflicting theoretical
predictions about the relationship between bank concentration, bank competition and
banking system fragility, this paper studies the impact of national bank concentration, bank ...
R Levine - Review of international Economics, 2001 - Wiley Online Library
This paper pulls together existing theory and evidence to assess whether international
financial liberalization, by improving the functioning of domestic financial markets and
banks, accelerates economic growth. The analysis suggests that the answer is “yes.” First, ...
L Laeven… - Journal of Financial Economics, 2009 - Elsevier
This paper conducts the first empirical assessment of theories concerning risk taking by
banks, their ownership structures, and national bank regulations. We focus on conflicts
between bank managers and owners over risk, and we show that bank risk taking varies ...
R Levine… - World Development, 1998 - Elsevier
This paper addresses two questions. First and foremost, what happened to stock market
size, liquidity, volatility, and international integration following capital control liberalization in
16 emerging market economies? Second, what is the empirical relationship between ...
RG King… - Capital markets and financial …, 1993 - books.google.com
How important are financial markets to the construction of a European economic system
which fosters growth, development and international trade? The traditional view is that
financial markets are simply the'handmaiden of industry', but recent economic research ...
A Demirgüç-Kunt… - The World Bank Economic Review, 1996 - JSTOR
World stock markets are booming, and emerging markets compose a disproportionately
large amount of this boom. Over the past ten years, world stock market capitalization rose
from $4.7 trillion to $15.2 trillion, and emerging market capitalization jumped from less ...
L Laeven… - Journal of Financial Economics, 2007 - Elsevier
This paper investigates whether the diversity of activities conducted by financial institutions
influences their market valuations. We find that there is a diversification discount: The market
values of financial conglomerates that engage in multiple activities, eg, lending and non- ...
G Caprio, L Laeven… - Journal of Financial Intermediation, 2007 - Elsevier
This paper assesses the impact of the ownership structure of banks and shareholder
protection laws on bank valuations while controlling for differences in bank regulations.
Except in a few countries with very strong shareholder protection laws, banks are not ...
AN Berger, A Demirgüç-Kunt, R Levine… - Journal of Money, Credit …, 2004 - JSTOR
The consolidation of banks around the world in recent years is intensifying public policy
debates on the influences of concentration and competition on the performance of banks. In
light of these developments, this paper first reviews the existing literature on the impact of ...
R Levine - REVIEW-FEDERAL RESERVE BANK OF SAINT …, 2003 - research.stlouisfed.org
Some do not even consider finance worth discussing. A collection of essays by the “pioneers
of development economics”—including three winners of the Nobel Prize in Economics—
does not discuss finance (Meier and Seers, 1984). At the other extreme, Nobel Prize ...
T Beck, A DEMIRGUC‐KUNT… - Journal of Money, …, 2008 - Wiley Online Library
Thorsten Beck is a Senior Economist, Development Research Group, World Bank (E-mail:
tbeck@worldbank.org). ... Asli Demirguc-Kunt is a Senior Research Manager, Development
Research Group, World Bank (E-mail: ademirguckunt@worldbank.org).
T Beck, A Demirguc-Kunt… - Journal of Economic Growth, 2005 - Springer
This paper explores the relationship between the relative size of the Small and Medium
Enterprise (SME) sector, economic growth, and poverty alleviation using a new database on
the share of SME labor in the total manufacturing labor force. Using a sample of 45 ...
R Levine - 2005 - nber.org
ABSTRACT While scholars have hypothesized about the sources of variation in property
rights for over 2500 years, it is only very recently that researchers have begun to test these
theories empirically. This paper reviews both the theory and empirical evidence ...
R Levine - Journal of Financial Economics, 2000 - Citeseer
Abstract: For over a century, economists and policy makers have debated the relative merits
of bankbased versus market-based financial systems. Recent research, however, argues
that classifying countries as bank-based or market is not a very fruitful way to distinguish ...
R Levine - World Bank Policy Research Working Paper No. 3404, 2004 - papers.ssrn.com
Abstract: Levine examines the corporate governance of banks. When banks efficiently
mobilize and allocate funds, this lowers the cost of capital to firms, boosts capital formation,
and stimulates productivity growth. So, weak governance of banks reverberates ...
T Beck, A Demirgüç-Kunt… - Journal of Monetary Economics, 2006 - Elsevier
Which commercial bank supervisory policies ease—or intensify—the degree to which bank
corruption is an obstacle to firms raising external finance? Based on new data from more
than 2500 firms across 37 countries, this paper provides the first empirical assessment of ...
R Levine, N Loayza, T Beck… - 1999 - csom.umn.edu
Abstract: This paper evaluates (1) whether the exogenous component of financial
intermediary development influences economic growth and (2) whether cross-country
differences in legal and accounting systems (eg, creditor rights, contract enforcement, and ...
T Beck, A Demirguc-Kunt… - 2003 - nber.org
Motivated by public policy debates about bank consolidation and conflicting theoretical
predictions about the relationship between the market structure of the banking industry and
bank fragility, this paper studies the impact of bank concentration, bank regulations, and ...
T Beck, A Demirguc-Kunt… - 2009 - siteresources.worldbank.org
Abstract: This paper introduces the updated and expanded version of the Financial
Development and Structure Database and presents recent trends in structure and
development of financial institutions and markets across countries. We add indicators on ...
A Demirgüç-Kunt, R Levine… - The implications of …, 1998 - econ.brown.edu
This paper evaluates whether fordgn bank activity (i) increases the likelihood of suffering a
banking crisis,(ii) improves the efficiency of domestic banks, and (Hi) accelerates long-run
economie growth. Using bank-level data across a broad cross-section of countiies, we find ...
W Easterly, R Levine… - Center for Global …, 2003 - papers.ssrn.com
Abstract: The Burnside and Dollar (2000) finding that aid raises growth in a good policy
environment has had an important influence on policy and academic debates. We conduct a
data gathering exercise that updates their data from 1970-93 to 1970-97, as well as filling ...
RG King… - 1992 - books.google.com
Economists have long debated the nature and empirical importance of the relationship
between financial systems and economic development. Financial institutions such as central
banks, banks, mutual funds, investment banks, and brokerage houses use a variety of ...
J Barth, G Caprio… - World Bank Policy Research …, 1998 - papers.ssrn.com
Abstract: Those who believe stricter restrictions on allowable bank activities will limit risk-
taking behavior may be surprised to learn that in countries where bank activities are
restricted, the likelihood of a banking crisis may be greater.
T Beck, A Demirguc-Kunt… - 2004 - nber.org
This paper contributes to the literature on how a country's legal origin influences the
operation of its financial system by using firm-level survey data on the obstacles that firms
face in raising external finance. The paper assesses two channels through which legal ...
R Levine… - Policy Research Working Paper Series, 1991 - ideas.repec.org
This paper reviews the conceptual, methodological, and statistical problems associated with
drawing inferences from cross-country regressions. The authors elaborate on the particular
problems associated with empirical attempts to link particular policies with long-run growth ...
T Beck, A Demirgüç-Kunt… - World Bank Policy Research …, 2001 - papers.ssrn.com
Abstract: A country's legal origin-whether British, French, German, or Scandinavian-helps
explain the development of its financial institutions today. Legal systems differ in their ability
to facilitate private exchanges and to adapt to support new financial and commercial ...
W Easterly… - Central Bank of Chile Working Papers, 2002 - bcentral.cl
Abstract We document five stylized facts of economic growth.(1) The “residual” rather than
factor accumulation accounts for most of the income and growth differences across
nations.(2) Income diverges over the long run.(3) Factor accumulation is persistent while ...
W Easterly… - Journal of African Economies, 1998 - CSAE
Abstract There is systematic contagion across national borders. Favourable or unfavourable
growth performance of one's neighbours tends to influence one's own long-run growth rate.
Policy choices are also contagious across borders. While improving policies alone boosts ...
JC Gozzi, R Levine… - Journal of Financial Economics, 2008 - Elsevier
By documenting the evolution of Tobin's q before, during, and after firms internationalize, this
paper provides evidence on the bonding, segmentation, and market-timing theories of
internationalization. We find that Tobin's q does not rise after internationalization, even ...
W Easterly… - 1995 - ideas.repec.org
Africa's economic history since 1960 fits the classical definition of tragedy: potential
unfulfilled with disastrous consequences. The authors use one mehthodology-cross-country
regressions-to account for sub-Saharan Africa's growth performance over the past 30 ...
R Levine… - Review of Finance, 2006 - rof.oxfordjournals.org
Abstract What is the impact of internationalization (firms raising capital and trading in
international markets) on the liquidity of the remaining firms in domestic markets? To
address this question, we assemble a panel database of nearly 2,900 firms from 45 ...
L Laeven… - Review of Financial Studies, 2008 - Soc Financial Studies
Abstract The bulk of corporate governance theory examines the agency problems that arise
from two extreme ownership structures: 100% small shareholders or one large, controlling
owner combined with small shareholders. In this paper, we question the empirical validity ...
T Beck… - 2001 - books.google.com
Analysis of a panel data set for 1976-98 shows that on balance stock markets and banks
positively influence economic growth; findings that do not result from biases induced by
simultaneity, omitted variables, or unobserved country-specific effects.
R Levine… - Policy Research Working Paper Series, 1993 - ideas.repec.org
What has the profession learned from cross-country regressions about the links between
long-run growth and indicators of fiscal, monetary, trade, financial, and exchange-rate
policies? The authors find that: indicators of financial development are strongly associated ...
G Caprio… - … : The Roles of the Public and …, 2002 - siteresources.worldbank.org
Abstract Using standard theories of corporate governance, this paper highlights the special
problems facing corporate governance of financial intermediaries and combines this
theoretical perspective with international observations to make policy recommendations. ...
W Easterly, R King, R Levine… - 1994 - nber.org
This paper describes a simple model of technology adoption which combines the two
engines of growth emphasized in the recent growth literature: human capital accumulation
and technological progress. Our model economy does not create new technologies, it ...
JR Barth, G Caprio… - Comparative Economic …, 2008 - palgrave-journals.com
Abstract This paper presents new and official survey information on bank regulations in 142
countries and makes comparisons with two earlier surveys. The data do not suggest that
countries have primarily reformed their bank regulations for the better over the last decade ...
R Levine - Finance and Development, 1996 - econ.brown.edu
World stock markets are booming and stock markets in developing countries account for a
disproportionately large share of this boom. Investors are venturing into the world's newest
markets and some are seeing handsome returns. But are developing countries ...
A Demirgüç-Kunt… - World Bank Policy Research …, 2008 - papers.ssrn.com
Abstract: The first part of this paper reviews the literature on the relation between finance
and growth. The second part of the paper reviews the literature on the historical and policy
determinants of financial development. Governments play a central role in shaping the ...
R Levine… - 2003 - bcentral.cl
Abstract This paper examines the impact of restricting foreign bank entry on bank net interest
margins while controlling for (a) impediments to domestic bank entry,(b) the degree of
foreign bank ownership of the domestic banking industry,(c) an array of bank-specific ...
T Beck, A Demirguc-Kunt… - 2003 - nber.org
We examine the impact of bank supervision on the financing obstacles faced by almost
5,000 corporations across 49 countries. We find that firms in countries with strong official
supervisory agencies that directly monitor banks tend to face greater financing obstacles. ...
T Beck, A Demirgüç‐Kunt… - Oxford Review of Economic …, 2001 - Oxford Univ Press
Abstract This paper examines legal theories of international differences in financial
development. The law and finance theory stresses that legal traditions differ in terms of (i)
their emphasis on the rights of private property owners vis‐à‐vis the state and (ii) their ...
G Caprio Jr… - The World Bank Research Observer, 1994 - World Bank
Abstract Financial reforms initiated in most transitional socialist economies do not yet
adequately provide many of the financial services associated with market-oriented financial
systems. Such services—mobilizing resources, selecting firms and allocating capital, ...
R Levine… - Journal of Banking & Finance, 2007 - Elsevier
This paper studies the relation between internationalization (firms cross-listing, issuing
depositary receipts, or raising capital in international stock markets) and the trading activity
of the remaining firms in domestic markets. Using a panel of 3000 firms from 55 emerging ...
T Beck… - 2000 - papers.ssrn.com
Abstract: Do industries that depend heavily on external finance grow faster in market-based
or bank-based financial systems? Are new firms more likely to form in a bank-based or a
market-based financial system? Beck and Levine find no evidence for the superiority of ...
A Demirgüç-Kunt, L Laeven… - 2003 - books.google.com
Abstract This paper examines the impact of bank regulations, concentration, inflation, and
national institutions on bank net interest margins using data from over 1,400 banks across
72 countries while controlling for bankspecific characteristics. The data indicate that tighter ...
[CITATION] Foreign Bank Entry and Capital Control Liberalization: Effects on Growth and Stability
R Levine - University of Minnesota, mimeo, 1999
R Levine - 1992 - books.google.com
TABLE OF CONTENTS I. Non-Technical Summary Page A. Motivation 1 B. The Literature and
This Paper's Contribution 2 C. Intuition Underlying the Model 3 D. Policy and Empirical
Predictions* 7 II. The Model 10 A. Preferences and Endowments 10 B. Technology 11 C. ...
JH Boyd, R Levine, BD Smith… - 1996 - clevelandfed.org
Many researchers, employing many different methodologies, have documented an
extremely strong positive correlation between measures of financial market development
and real economic performance. On average, countries with well-developed financial ...
T Beck… - 2003 - books.google.com
Abstract: This paper explores the relationship between the relative size of the small and
medium enterprise (SME) sector, economic growth, and poverty using a new database on
the share of SME labor in the total manufacturing labor force. Using a sample of 76 ...
L Laeven… - World Bank Working Paper, 2006 - ecb.int
Abstract This paper examines the impact of ownership structure, managerial shareholdings,
and national laws and regulations on bank risk taking. Consistent with recent theories, we
find that large owners with substantial cash flow rights increase bank risk taking, but this ...
A Demirguc-Kunt… - 2009 - nber.org
This paper critically reviews the literature on finance and inequality, highlighting substantive
gaps in the literature. Finance plays a crucial role in most theories of persistent inequality.
Unsurprisingly, therefore, economic theory provides a rich set of predictions concerning ...
R Levine - Journal of the Japanese and International Economies, 1992 - Elsevier
Abstract This paper constructs a model in which financial intermediaries arise in response to
economic conditions and then examines how the financial services provided by these
intermediaries—facilitating portfolio diversification, providing liquidity risk management, ...
R Levine… - 2003 - nber.org
What is the impact of firms that cross-list, issue depositary receipts, or raise capital in
international stock markets on the liquidity of remaining firms in domestic markets? Using a
panel of over 3,200 firms from 55 countries during 1989-2000, we find that ...
T Beck, R Levine… - 2007 - nber.org
By studying intrastate branch banking reform in the United States, this paper provides
evidence that financial markets substantively influence the distribution of income. From the
1970s through the 1990s, most states removed restrictions on intrastate branching, which ...
T Beck, R Levine… - The Journal of Finance, 2010 - Wiley Online Library
We assess the impact of bank deregulation on the distribution of income in the United
States. From the 1970s through the 1990s, most states removed restrictions on intrastate
branching, which intensified bank competition and improved bank performance. Exploiting ...
[CITATION] Financial structures across countries: Stylized facts
A Demirguc-Kunt… - Washington, DC: World Bank Policy Research Working …, 1999
R Levine - Journal of International Money and Finance, 1989 - Elsevier
Abstract This paper tests the hypotheses that (1) risk premia fully account for the observed
systematic discrepancies between forward and future spot exchange rates; and (2)'efficient
markets versions' of PPP holds. A simple theoretical framework is used to derive testable ...
A Demirgüç-Kunt… - World Bank Global Policy …, 2000 - www-wds.worldbank.org
Concentration in the banking industry may have far-ranging and long-lasting implications for
financial sector efficiency, bank stability, industrial competitiveness, and the policies,
regulations, and institutions essential for long-run economic growth. 1 Some argue that ...
R Levine, T Beck… - Research Working papers, 1999 - ingentaconnect.com
Abstract: Development of the banking sector exerts a large, causal impact on total factor
productivity growth, which in turn causes GDP to grow. Whether banking development has a
long-run effect on capital growth or private saving remains to be seen. Beck, Levine, and ...
[CITATION] Rethinking bank supervision and regulation: Until angels govern
J Barth, G Caprio… - 2006 - Cambridge, UK: Cambridge …
R Levine - Global Corporate Governance Forum, World Bank, …, 2003 - gcgf.org
Abstract This paper examines the corporate governance of banks. When banks efficiently
mobilize and allocate funds, this lowers the cost of capital to firms, boosts capital formation,
and stimulates productivity growth. Thus, weak governance of banks reverberates ...
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