By Garett Jones
Why do banks cave in? Are monetary structures extra fragile in fresh many years? Can rules to mend the banking approach do extra damage than stable? what is the background of banking crises? With dozens of short, non-technical articles by means of economists and different researchers, Banking Crises deals solutions from various scholarly viewpoints.
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Additional info for Banking Crises: Perspectives from the New Palgrave Dictionary of Economics
Journal of Economic History 50, 283–95. W. 2000. S. Bank Deregulation in Historical Perspective. Cambridge: Cambridge University Press. W. and Gorton, G. 1991. The origins of banking panics: models, facts, and bank regulation. In Financial Markets and Financial Crises, ed. G. Hubbard. Chicago: University of Chicago Press. W. M. 1991. The role of demandable debt in structuring optimal banking arrangements. American Economic Review 81, 497–513. W. R. 1997. Contagion and bank failures during the great depression: the June 1932 Chicago banking panic.
Wicker, E. 1996. The Banking Panics of the Great Depression. Cambridge: Cambridge University Press. banking industry The distinctive function of banks is the transformation of short-term deposits into longer-term, less liquid and riskier loans (Fama, 1980; 1985; Diamond and Rajan, 2001; Gorton and Winton, 2003). By raising funds from depositors and providing credit, banks avoid the duplication of monitoring, which reduces the overall cost of transferring funds from capital suppliers to its users (Leland and Pyle, 1977; Diamond, 1984).
Technological innovation is lessening the importance of close lending relationships, enlarging the size of local credit markets and further reducing the role of small banks (Petersen and Rajan, 2002). Worldwide regulatory systems are moving to allow more competition and to assign a more important role to market evaluation (Basel Committee on Banking Supervision, 2005). DARIO FOCARELLI AND ALBERTO FRANCO POZZOLO See Also agency problems; banking crises; financial intermediation; market structure; merger analysis (United States); micro-credit; payment systems.
Banking Crises: Perspectives from the New Palgrave Dictionary of Economics by Garett Jones