New Economics Papers
on Banking
Issue of 2006‒08‒12
five papers chosen by
Roberto J. Santillán–Salgado, EGADE-ITESM

  1. Regulation of Financial Systems and Economic Growth By Alain de Serres; Shuji Kobayakawa; Torsten Sløk; Laura Vartia
  2. U.S. banking deregulation and self-employment: a differential impact on those in need By Yuliya Demyanyk
  3. Should the FDIC worry about the FHLB? the impact of Federal Home Loan Bank advances on the Bank Insurance Fund By Rosalind L. Bennett; Mark D. Vaughan; Timothy J. Yeager
  4. Is the Federal Home Loan Bank system good for banks? a look at evidence on membership, advances and risk By Dusan Stojanovic; Mark D. Vaughan; Timothy J. Yeager
  5. The Efficiency and Robustness of Allowance Banking in the U.S. Acid Rain Program By A. Denny Ellerman; Juan-Pablo Montero

  1. By: Alain de Serres; Shuji Kobayakawa; Torsten Sløk; Laura Vartia
    Abstract: This paper examines whether regulation that is more conducive to competitive and efficient financial systems has a significant positive impact on sectoral output and productivity growth in a sample of 25 OECD countries. More specifically, following a methodology used by Rajan and Zingales (1998), the paper tests whether industries that depend more heavily on external sources of funding tend to grow faster in countries that have more competition-friendly regulation in markets for banking services and financial instruments. The regulatory indicators are assembled from surveys conducted by the World Bank on regulations in banking and securities markets. They point to substantial variations in the stance of regulation across countries, in particular with respect to the broad rules underpinning securities market transactions. The empirical analysis indicates that financial system regulation matters for output growth both in a statistical and economic sense. <P>Réglementation des systèmes financiers et croissance économique <BR>L'objet de cette étude consiste à examiner, sur la base d'un échantillon de 25 pays de l'OCDE, dans quelle mesure une réglementation plus propice à des systèmes financiers concurrentiels et efficaces entraîne un effet positif significatif sur la croissance sectorielle. De manière plus spécifique, suivant une approche utilisée par Rajan et Zingales (1998), l'étude vérifie si les industries qui dépendent davantage des fonds externes croissent plus rapidement dans les pays dont la réglementation conduit à une concurrence plus vive sur les marchés des services bancaires et des instruments financiers. Les indicateurs de réglementation sont construits à partir d'information recueillie par la Banque Mondiale sur la réglementation dans le secteur bancaire et sur les valeurs obilières. Ils mettent en lumière des variations substantielles entre les pays, en particulier en ce qui a trait à la réglementation encadrant les transactions sur valeurs mobilières. L'analyse statistique indique que la réglementation des systèmes financiers affecte la croissance de la production de manière significative, à la fois au sens statistique et économique.
    Keywords: système financier, financial systems, external funding, financial regulation, sectoral growth, barrier to competition, investor protection, financement externe, réglementation financière, croissance sectorielle, entrave à la concurrence, protection des actionnaires
    JEL: G15 G18 G21 G28 O40
    Date: 2006–08–02
  2. By: Yuliya Demyanyk
    Keywords: Bank supervision ; Banks and banking
    Date: 2006
  3. By: Rosalind L. Bennett; Mark D. Vaughan; Timothy J. Yeager
    Keywords: Banks and banking ; Financial institutions ; Deposit insurance
    Date: 2005
  4. By: Dusan Stojanovic; Mark D. Vaughan; Timothy J. Yeager
    Keywords: Government-sponsored enterprises ; Federal Home Loan Bank System ; Bank liquidity
    Date: 2005
  5. By: A. Denny Ellerman; Juan-Pablo Montero
    Abstract: This paper provides an empirical evaluation of the efficiency of allowance banking (i.e., abating more in early periods in order to abate less in later periods) in the nationwide market for sulfur dioxide (SO2) emission allowances that was created by the U.S. Acid Rain Program. We develop a model of efficient banking, select appropriate parameter values, and evaluate the efficiency of observed temporal pattern of abatement based on aggregate data from the first eight years of the Acid Rain Program. Contrary to the general opinion that banking in this program has been excessive, we find that it has been reasonably efficient. We also show that this optimal banking program is robust to the errors in expectation that characterized the early years of this program; however, this property is due to design features that are unique to the U.S. Acid Rain Program.
    Date: 2005–03

This issue is ©2006 by Roberto J. Santillán–Salgado. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
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