Economics Commons^™

Lobbying – A Financial Perspective, Sean Byrne

Theses and Dissertations

U.S. based bank holding companies (BHCs) exert influence at every step in the legislative process where financial regulatory reforms are enacted into law, such as the Dodd-Frank Act, to promulgation of regulations. In Chapter II, we maintain that BHCs, upon facing salient regulation, lobby regulators to have their opinions heard with the goal of favorable regulatory change and to increase non-traditional revenues. We undertook a novel collection of political and financial data from 2003 to 2018, matching 180 pairs of parsed proposed and final regulations. BHCs that participated in commenting on proposed rules are highly successful at having their views …

Unwilling Gamblers And Loaded Dice: Considering Recession And Crisis As A Natural Effect Of Financial Capitalism, Darlene N. Moorman

The Downtown Review

Under financial capitalism, ordinary people are increasingly becoming 'unwilling gamblers' of a risky and unstable system. This paper explores the social and institutional change behind the neoliberal movement and considers how the politics and policies of neoliberalism have contributed to a certain environment of financial instability. Looking at the changing nature of the economy, the rapid expansion of the financial sector, and the persisting issue of moral hazard underlying risky and speculative behaviors among other items, reveals a financial system in which recessions and crises can be considered a natural, although not inevitable, effect.

Three Chapters On Investments And Financial Institutions, Cao Fang

Graduate Theses and Dissertations

Only the stock selection (“alpha”) decisions of fund managers who trade on firm-specific information should have predictive return content. Faced with the same information, skilled fund managers make similar stock selection decisions. In Chapter one, we introduce a new measure - stock investment quality - which uses fund quality to weight asymmetries in private information reflected in deviations of fund from peer group ownership on stocks in a style segment. We show stocks ranked high on investment quality generate significantly higher excess returns that persist through the ensuing year. The positive investment quality–future return relationship is robust to alternative fund …

Digital Only Banks The Changing Face Of Global Banking: Challenges, Opportunities And Aml/Cft Implications For Nigeria, David N. Odu

Bullion

The drastic digitization brought about by evolution of technology in the world has changed almost every sphere of human life with the most recent effect being moved to cashless economy, while the role of digitization in the banking sector is altering customer demand and preferences, banks are becoming digitally oriented to meet the forces of demand and supply. This has led to the birth of digital-only also called challenger bankers or branches banks as they operate without a physical location, only have a location for admin purposes or hosting their servers. This growing wave of consumer oriented banking institutions focuses …

Canadian Banks And Imperialism In The English-Speaking Caribbean, Tamanisha J. John

FIU Electronic Theses and Dissertations

Canadian banks have been important components of an imperialist system since at least the 19^th century. However, their long and rich history of operating as purely exploitative entities in the English-speaking Caribbean region is often overlooked— leading to many incomplete and conflicting narratives about Canada’s role within the global system. I argue that Canada is an imperial actor that exerts agency in supporting a Canadian banking oligopoly both within Canada and in the English-speaking Caribbean. Insufficient attention is given to these Canadian banks, especially considering the power they have wielded in the Caribbean over the centuries. By analyzing the …

Finance And Economic Performance Across Countries, Monika Islam Khan

Theses and Dissertations--Economics

My dissertation consists of three papers on finance and economic performance across countries. The first paper applies the gravity model of international trade to quantify the impact of the banking sector and the stock market on bilateral trade patterns. Following the study of capital structure, I evaluate the mix of external financing sources used for real investment at the macroeconomic level by differentiating between the relative roles of the banking sector and stock market development in determining trade patterns. Using aggregate bilateral trade data for 87 countries over 1976-2012, I find that stock market development has a substantial impact on …

Innovations In Money And Banking Markets, Eduardo Guimaraes Minuci

Graduate Theses, Dissertations, and Problem Reports

The U.S. banking industry has experienced several technological and banking regulatory changes in the past two decades. This dissertation is composed of three papers that review and investigate how these banking and technological innovations have impacted depositors, bank provision of monetary assets, and bank performance. The order in which the papers are presented follows the order in which they were produced as the production of one paper helped spark ideas that led to the next.

Motivated by the fact that money has become more heterogeneous in terms of its returns, Chapter 1 focus on innovations in money markets by focusing …

New Kid On The Blockchain: The Rise Of Cryptocurrency In The Global Arena: Humanitarian Usage With Blockchain, Rhonda S. Binda

Open Educational Resources

In 2018, the world was shaken by the fast rise of Bitcoin and other cryptocurrencies that use a decentralized, blockchain technology for payment transfers outside of the traditional banking system. The potential impact this alternative form of banking could have in the medium and long term on the over 2 billion people globally unbanked is tremendous. Additionally, blockchain itself is being used for value transfer combined with bio and genetic tagging technologies in refugee camps for example, bringing to rise a new era where technology for development is disrupting education, healthcare and security programs globally.

Bank Loan Loss Provisioning During Election Years In Nigeria, Peterson Kitakogelu Ozili

Bullion

The paper investigates the behavior of loan loss provisions during election years in Nigeria. Election events create uncertainties in the business environment. Election and post-election events may amplify credit risks for banks, requiring banks to keep higher loan loss provisions. Using country-level data, it was revealed that the election year did not have a significant effect on the level of loan loss provisions in the Nigerian banking sector. However, the banking sector had high provisions when it is undercapitalized during election years.

Toward A More Universal Currency: The Impact Of The Clearing Mechanism On Developing Economies, Evan Ross Kaderbeck

Applied Economics Theses

Toward a More Universal Currency:

The Impact of the Clearing Mechanism on Developing Economies

As part of a broader plan to reform the system of international finance, experts have indicated the need to modify the system of international money. They point to problems such as the difficulties faced by developing countries in obtaining hard currency needed for imports, or the flows of hot money which make the financing of long-term development projects difficult. Some have called for a form of universal currency, used only in international trade. Developing nations especially need access to a clearing mechanism which would eliminate the …

Venezuela Undermines Gold Miner Crystallex's Attempts To Recover On Its Icsid Award, Sam Wesson

Loyola of Los Angeles International and Comparative Law Review

No abstract provided.

Making Consumer Finance Work, Natasha Sarin

All Faculty Scholarship

The financial crisis exposed major faultlines in banking and financial markets more broadly. Policymakers responded with far-reaching regulation that created a new agency—the CFPB—and changed the structure and function of these markets.

Consumer advocates cheered reforms as welfare-enhancing, while the financial sector declared that consumers would be harmed by interventions. With a decade of data now available, this Article presents the first empirical examination of the successes and failures of the consumer finance reform agenda. Specifically, I marshal data from every zip code and bank in the United States to test the efficacy of three of the most significant post-crisis …

Banking Efficiency Within The World’S Largest Banks: Application Of Data Envelopment Analysis To The Global Financial Crisis Of 2008, Devin Coffey

Honors Theses

The world’s financial system is one of the globe’s most powerful structures, however the institutions that make up this network of banking firms are certainly not immune to the pressures of market globalization and technical innovation that drive change within the financial landscape. In order to exist within such an environment, the world’s largest commercial banks must constantly reevaluate the ways in which they function in order keep pace in the competitive market. The objective of this paper is to examine the efficiency of ten of the world’s largest commercial banks during the period spanning from 2006 to 2015. Utilizing …

Model Specification For Bank Failure: A Retrospective Look At Banks In Missouri During The Great Depression, Peter Welch

CMC Senior Theses

This paper examines banks in Missouri during the Great Depression in order to find the correct model specification for bank failure during economic downturns. The data set controls for a bank’s balance sheet, correspondent network, charters and memberships, county characteristics, and market share, and includes both Federal Reserve member and non-member banks. Using a probit model, it is concluded that the contractionary monetary policy employed by the St. Louis Federal Reserve did not help bank survival, as being a member of the Federal Reserve had no significant effect on a bank’s probability of survival. Additionally, while an increased network led …

The Effects Of The Correspondent Banking Network On The Real Economy, Jack Brown

CMC Senior Theses

There is a longstanding academic debate regarding the role of financial networks. There is a tradeoff between improving the flow of funds and acting as a channel for contagion. This paper investigates the impact of banking networks on the real economy during the Great Depression. Building permit values are used as a proxy for real economic activity as implemented in previous research. A simple linear regression model estimated by ordinary least squares is used such that locational networks are differentiated from networks links to money centers and non-money centers. The results demonstrate that financial networks have both positive and negative …

. . . And Law?, John Henry Schlegel

Contributions to Books

Published as Chapter 18 in Searching for Contemporary Legal Thought, Justin Desautels-Stein & Christopher Tomlins, eds.

The locution “law and . . . (some other discipline)” implicitly asserts the primacy of legal doctrine and institutions narrowly conceived for coming to understand phenomena in which law takes a part. The ordinary story of American legal theory – formalism then realism then contemporary legal thought – can be understood to repeat the triumphalism implicit in “law and . . .” Of course, the story of American legal theory could possibly be read differently -- as a series of responses to the inability …

New Regionalism In Global Order: Regional Trade Integration And Its Links With Financial Sector, Tulu Balkir

Graduate Program in International Studies Theses & Dissertations

This dissertation evaluates the linkages of regional trade integration with regional financial integration and financial development in the EU and the ASEAN. The research utilizes quantitative and qualitative data to analyze development of banking sector and capital markets in these two regions, reviews related integration initiatives in the EU and ASEAN banking sectors and capital markets and their possible links with regional trade. The results mainly indicate that banking sector and capital markets perform important functions to provide financing to firms and infrastructure projects, to hedge trade and project risks and to support macro-financial stability, all of which can support …

The Banking System, Manufacturing Sector And Sustainable Economic Development., Risikat S. Oladoyin Dauda

Bullion

The paper is structured into five sections. Section one presents the introduction, while section two presents conceptual and theoretical issues. Section three captures issues in Nigeria's manufacturing sector, Section four presents a brief overview on the performance and financial intermediation roles of Nigeria's banking industry vis-a-vis the manufacturing sector, Section five and six contains the challenges and prospect of promoting banking system intermediary services in the manufacturing sector for sustainable development and concludes the paper respectively.

From Hard Money To Branch Banking California Banking In The Gold Rush Economy, Larry Schweikart, Lynne Pierson Doti

Economics Faculty Articles and Research

In Gold Rush–era California, banking and the financial sector evolved in often distinctive ways because of the Gold Rush economy. More importantly, the abundance of gold on the West Coast provided an interesting test case for some of the critical economic arguments of the day, especially for those deriving from the descending—but still powerful—positions of the “hard money” Jacksonians.

The Federal Reserve And A Cascade Of Failures: Inequality, Cognitive Narrowness And Financial Network Theory, Emma Coleman Jordan

Georgetown Law Faculty Publications and Other Works

The recent financial crisis hollowed out the core of American middle-class financial stability. In the wake of the financial crisis, household net worth in the U.S. fell by 24%, for a loss of $16 trillion. Moreover, retirement accounts, the largest class of financial assets, took a steep drop in value, as did house prices, and these two classes of assets alone represent approximately 43% of all household wealth. The losses during the principal crisis years, 2007–2009, were devastating, “erasing almost two decades of accumulated prosperity,” in the words of a 2013 report. By the Federal Reserve. Beyond these direct household …

Mochtar Riady [Indonesia, Banker], Mochtar Riady

Digital Narratives of Asia

Founder and Chairman of Lippo Group, Mochtar Riady gained the moniker "Magic Man of Banking" because of his ability to turn around and grow several of Indonesia's private banks, the most notable being Bank Central Asia (BCA). But his 15 years in BCA wasn't all smooth sailing. He speaks to DNA about his challenges in BCA, which saw him dealing with sensitive relationships with the Suharto government, as well as the firing of his own son for Forex speculation.

Los Procesos De Bancarización Y Su Alcance En El Desarrollo Humano: Un Análisis Para Los Países De La Alianza Del Pacifico 2007 2012, Jorge Armando Moreno Agudelo, Víctor David Bonilla Najar

Finanzas y Comercio Internacional

El actual documento presenta una revisión teórica del fenómeno de bancarización como herramienta institucional público - privada para fomentar la inclusión financiera en las personas habitantes de los países miembros de la alianza pacifico (Colombia, Chile, Perú y México), se desarrollan los principales programas nacionales que buscan que un mayor número de personas accedan al sistema financiero, lo conozcan y usen sus servicios buscando mejorar su calidad de vida medida a través del índice de desarrollo humano (IDH), compuesto por educación, ingreso y esperanza de vida, la hipótesis fundamental del trabajo afirma que una masificación geográfica de la banca comercial …

Theories And Practices Of Islamic Finance And Exchange Laws: Poverty Of Interest, Ahmed E. Souaiaia

Ahmed E SOUAIAIA

Government Versus Market Regulation: The Nanny State Or The Liberal State, Warren Coats

Warren Coats

The nanny state world is characterized by a growing list of regulations and government supervision of business in an effort to fix the most recently observed problems. The price of such protection is the increased cost of doing business, which tends to crowd out small businesses and favor large ones, which can more easily absorb the compliance costs. The benefit is often difficult to detect. Has Dodd-Frank really made it feasible to fail our largest banks (now larger than they were just before the Great Recession), i.e. are they no longer too big to fail?

The self-governing, liberal state—"Liberalism unrelinquished"—is …

Determinants Of The Profitability Of The U.S. Banking Industry During The Financial Crisis, Shiang Liu

All Theses

This research focuses on the determinants of the profitability of the US banking industry during the financial crisis. The analysis focuses on both internal and external variables regarding the profitability of banking sector, including bank-specific variables, industry-specific variables and macro economy variables. Data over the period 2007-2012 for 8677 US banks is derived from the Federal Deposit Insurance Corporation, Nasdaq Stock Market and Federal Reserve Bank. Fixed effect panel model are used to analyze the estimator and the significance of the determinants of the profitability. In this study, I test the nonlinear relationship between profitability and capital adequacy ratio and …

Banks And Governments: An Arial View, Anna Gelpern

Georgetown Law Faculty Publications and Other Works

Financial systems and public treasuries are communicating vessels: strength or weakness in one flows to the other, and back. This chapter considers the implications of this insight using case studies from Europe, Asia, and Latin America. The connection is not unique to Europe, although it does not always result in feedback effects, or the ‘doom loop’ that has made headlines since 2010. Events now known as banking or government debt crises often have had elements of both, and could have gone either way. Policy and political choices determined their path. In all cases, governments were as indispensable for resolving banking …

Fair Value Accounting: How Bad Decisions Bring Blame To Beneficial Accounting Procedures, Thomas John Ciulla

Senior Honors Theses

The Great Recession has sparked a debate amongst accounting professionals and economic analysts. There has been a concerted effort to blame fair value accounting and FAS 157 as the recession’s root cause and an attempt to challenge FASB to return to the historic cost principle. This paper examines the guidelines and procedures for mark to market as established by FASB, observes the events leading up to the recession, conditions that materialized at the start of the recession, evaluates the role fair value played in the financial crisis, and considers how fair value should be used in the future.

Sisteme Bancare Comparate. Comparative Analysis Of Banking Systems, Cristi Spulbăr, Mihai Nițoi

Cristi Spulbăr

No abstract provided.

What Is Going On With Our Economy, Tom Campbell

Tom Campbell

The financial crisis was caused by two factors. First was the abnormally easy money policy followed by the Federal Reserve for many years, keeping down interest rates, and creating a bubble in real estate. The second was the influence of the federal government, under both parties, and through both Congress and the President, to increase home ownership whether or not individuals were financially able to carry the mortgage. The first factor fed the second as higher real estate prices gave the impression that refinancing would be able to pay off mortgages even if a borrower's income could not. Solutions to …

The Role Of Non-Interest Banking In National Economic Development, Hakeem Ishola Mobolaji

Bullion

The paper examines non-interest Banking model that operates devoid of interest in lending, financing, deposit-taking and all forms of financial intermediation. Hence, the bank becomes an important financial institution for enhancing growth and development in an economy. The article is divided into five section, the first being the introduction, section two contains the conceptual framework, three highlights non-interest banking in Nigeria and four concludes the paper.