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Banking

Edited by John O. S. Wilson

Routledge – 2012 – 2,130 pages

Series: Critical Concepts in Finance

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    978-0-415-61546-4
    November 16th 2011

Description

It is almost universally agreed that banks are of central importance for economic growth, the efficient allocation of capital, financial stability, and the competitiveness and development of manufacturing and service sectors. And, at least in recent decades, it has also widely been believed that high-performing banks, supported by state-of-the-art risk-management capabilities, and light-touch, market-based regulation would allow plentiful finance for investment, leading to economic growth. However, since 2007, as the global financial system has endured extreme turbulence—with banks suffering stomach-churning losses, necessitating unbelievable bailouts by national governments—this orthodoxy has been roundly challenged. Academics and policymakers alike have been forced fundamentally to re-examine the scale, scope, governance, performance, as well as the safety and soundness, of financial institutions.

The necessity for such urgent reassessments underscores the timeliness of this new Major Work collection from Routledge. It meets the need for an authoritative reference work to map the existing scholarly corpus, and to make sense of the continuing explosion in research output. Edited by John O. S. Wilson, a leading scholar, Banking is a five-volume collection which brings together the very best foundational and cutting-edge contributions to the field.

The collection is divided into four principal parts. Part 1 is dedicated to ‘The Theory and Business of Banking’. The second part deals with ‘The Industrial Organization of Banking’, while Part 3 explores ‘Deregulation, Regulation, Supervision, and Crises’. The final part of the collection brings together the best scholarship and other useful materials on ‘Banks and the Macro economy’.

The collection is fully indexed. It also includes comprehensive introductions and overviews to each principal part, newly written by the editor, which place the material in its intellectual and historical context. It is an essential work of reference and is destined to be valued by users as a vital one-stop research resource.

Contents

Volume I: THE THEORY AND BUSINESS OF BANKING

John O. S. Wilson, ‘The Theory and Business of Banking’ (Introduction and Overview to Volume I).

1. F. Allen, M. Chui, and A. Maddaloni, ‘Financial Systems in Europe, the USA, and Asia’, Oxford Review of Economic Policy, 2004, 20, 490–508.

2. E. Kane and B. Malkiel, ‘Bank Portfolio Allocation, Deposit Variability and the Availability Doctrine’, Quarterly Journal of Economics, 1965, 79, 113–34.

3. M. Klein, ‘A Theory of the Banking Firm’, Journal of Money, Credit and Banking, 1971, 3, 205–18.

4. H. Leland and D. E. Pyle, ‘Information Asymmetries, Financial Structure and Financial Intermediation’, Journal of Finance, 1977, 32, 371–87.

5. J. Stiglitz and A. Weiss, ‘Credit Rationing in Markets with Imperfect Information’, American Economic Review, 1981, 393–410.

6. D. W. Diamond, ‘Financial Intermediation and Delegated Monitoring’, Review of Economics Studies, 1984, 51, 393–414.

7. E. F. Fama, ‘What’s Different about Banks?’, Journal of Monetary Economics, 1985, 15, 29–39.

8. C. James, ‘Some Evidence on the Uniqueness of Bank Loans’, Journal of Financial Economics, 1987, 19, 217–35.

9. J. Boyd and E. Prescott, ‘Financial Intermediary-Coalitions’, Journal of Economic Theory, 1986, 38, 211–32.

10. C. W. Calomiris, and C. M. Kahn, ‘The Role of Demandable Debt in Structuring Optimal Banking Arrangements’, American Economic Review, 1991, 81, 497–513.

11. G. Gorton and G. Pennacchi, ‘Banks and Loan Sales: Marketing Non-Marketable Assets’, Journal of Monetary Economics, 1995, 35, 389–411.

12. S. I. Greenbaum, ‘Twenty Five Years of Banking Research’, Financial Management, 1996, 25, 86–92.

13. D. Diamond and R. G. Rajan, ‘Liquidity Risk, Liquidity Creation and Financial Fragility: A Theory of Banking’, Journal of Political Economy, 2001, 91, 287–327.

14. A. K. Kashyap, R. G. Rajan, and J. C. Stein, ‘Banks as Liquidity Providers: An Explanation for the Co-existence of Lending and Deposit-Taking’, Journal of Finance, 2002, 57, 33–73.

15. R. G. Rajan, ‘Insiders and Outsiders: The Choice Between Informed and Arm’s-Length Debt’, Journal of Finance, 1992, 47, 1367–400.

16. R. G. Rajan, ‘Why Do Bank Credit Polices Fluctuate’, Quarterly Journal of Economics, 1994, 109, 399–441.

17. A. Shleifer and R. W. Vishny, ‘Unstable Banking’, Journal of Financial Economics, 2010, 97, 306–18.

18. A. N. Berger et al., ‘Does Function Follow Organisational Form? Evidence from the Lending Practices of Large and Small Banks’, Journal of Financial Economics, 2005, 76, 237–69.

19. R. DeYoung and K. P. Roland, ‘Product Mix and Earnings Volatility at Commercial Banks: Evidence from a Degree of Total Leverage Model’, Journal of Financial Intermediation, 2001, 10, 54–84.

20. L. Laeven and R. Levine, ‘Bank Governance, Regulation and Risk Taking’, Journal of Financial Economics, 2009, 93, 259–75.

21. T. S. Y. Ho and A. Saunders, ‘The Determinants of Bank Interest Margins: Theory and Empirical Evidence’, Journal of Financial and Quantitative Analysis, 1981, 16, 581–600.

22. A. Saunders, E. Strock, and N. G. Travlos, ‘Ownership Structure, Deregulation, and Bank Risk Taking’, Journal of Finance, 1990, 45, 643–54.

Volume II: the INDUSTRIAL ORGANIZATION OF BANKING

John O. S. Wilson, ‘The Industrial Organization of Banking’ (Introduction and Overview to Volume II).

23. R. Gilbert, ‘Bank Market Structure and Competition: A Survey’, Journal of Money, Credit and Banking, 1984, 16, 617–45.

24. T. Hannan, ‘Foundations of the Structure-Conduct-Performance Paradigm in Banking’, Journal of Money, Credit and Banking, 1991, 23, 68–84.

25. A. N. Berger and T. H. Hannan, ‘The Efficiency Cost of Market Power in the Banking Industry: A Test of the Quiet Life and Related Hypotheses’, Review of Economics and Statistics, 1998, 80, 454–65.

26. X. Vives, ‘Competition in the Changing World of Banking’, Oxford Review of Economic Policy, 2001, 17, 535–47.

27. J. P. Hughes and L. J. Mester, ‘Efficiency in Banking: Theory, Practice, and Evidence’, in A. N. Berger, P. Molyneux, and J. O. S. Wilson (eds.), Oxford Handbook of Banking (Oxford University Press, 2010).

28. S. Shaffer, ‘Competition in the US Banking Industry’, Economics Letters, 1989, 29, 321–3.

29. S. Claessens and L. Laeven, ‘What Drives Bank Competition? Some International Evidence’, Journal of Money, Credit, and Banking, 2004, 36, 563–83.

30. A. N. Berger et al., ‘Bank Concentration and Competition’, Journal of Money, Credit and Banking, 2004, 36, 433–51.

31. S. Carbo et al., Cross-Country Comparisons of Competition and Pricing Power in European Banking’, Journal of International Money and Finance, 2009, 28, 115–34.

32. B. Casu and C. Girardone, ‘Testing the Relationship Between Competition and Efficiency in Banking: A Panel Data Analysis’, Economics Letters, 2009, 105, 134–7.

33. J. Goddard and J. O. S. Wilson, ‘Competition in Banking: A Disequilibrium Approach’, Journal of Banking and Finance, 2009, 33, 2282–92.

34. E. Elyasiani and L. Goldberg, ‘Relationship Lending: A Survey of the Literature’, Journal of Economics and Business, 2004, 56, 315–30.

35. H. Degryse and S. Ongena, ‘Distance, Lending Relationships and Competition’, Journal of Finance, 2005, 60, 231–66.

36. M. Kim, D. Kliger, and B. Vale, ‘Estimating Switching Costs: The Case of Banking’, Journal of Financial Intermediation, 2003, 12, 25–56.

37. Neumark and S. Sharpe, ‘Market Structure and the Nature of Price Rigidity: Evidence from the Market for Consumer Deposits’, Quarterly Journal of Economics, 1992, 107, 657–80.

38. R. DeJuen, ‘The Independent Submarkets Model: An Application to the Spanish Retail Banking Market’, International Journal of Industrial Organization, 2003, 21, 1461–87.

39. A. A. Dick, ‘Demand Estimation and Consumer Welfare in the Banking Industry’, Journal of Banking and Finance, 2008, 32, 1661–76.

40. R. Adams, K. Brevoort, and E. Kiser, ‘Who Competes with Whom? The Case of Depository Institutions’, Journal of Industrial Economics, 2007, 55, 141–67.

41. A. M. Cohen and M. J. Mazzeo, ‘Market Structure and Competition Among Retail Depository Institutions’, Review of Economics and Statistics, 2007, 89, 60–74.

42. D. C. Wheelock and P. W. Wilson, ‘Why Do Banks Disappear? The Determinants of US Bank Failures and Acquisitions’, Review of Economics and Statistics, 2000, 82, 127–38.

43. D. Focarelli and F. Panetta, ‘Are Mergers Beneficial to Consumers? Evidence from the Italian Market for Bank Deposits’, American Economic Review, 2003, 93, 1152–72.

44. T. Hannan and J. M. McDowell, ‘The Determinants of Technology Adoption: The Case of the Banking Firm’, Rand Journal of Economics, 1984, 15, 328–35.

Volume III: DEREGULATION, REGULATION, SUPERVISION, AND CRISES

John O. S. Wilson, Introduction and Overview to Volume III.

45. D. Acemoglu, ‘A Simple Model of Inefficient Institutions’, Scandanavian Journal of Economics, 2006, 108, 515–46.

46. D. W. Diamond and P. Dybvig, ‘Bank Runs, Deposit Insurance, and Liquidity’, Journal of Political Economy, 1983, 91, 401–19.

47. E. J. Kane, ‘Good Intentions and Unintended Evil: The Case Against Selective Credit Allocation’, Journal of Money, Credit and Banking, 1977, 9, 55–69.

48. M. O’Hara and W. Shaw, ‘Deposit Insurance and Wealth Effects: The Benefit of Being too Big to Fail’, Journal of Finance, 1990, 45, 1587–600.

49. M. C. Keeley, ‘Deposit Insurance, Risk and Market Power in Banking’, American Economic Review, 1990, 80, 1183–200.

50. T. Hellman, K. Murdoch, and J. Stiglitz, ‘Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Controls Enough?’, American Economic Review, 2000, 90, 147–65.

51. E. Kane and A. Demirguc-Kunt, ‘Deposit Insurance Around the World: Where Does it Work?’, Journal of Economic Perspectives, 2002, 175–95.

52. M. Flannery, ‘Using Market Information in Prudential Bank Supervision: A Review of the U.S. Empirical Evidence’, Journal of Money, Credit and Banking, 1998, 30, 273–305.

53. T. Beck, R. Levine, and A. Levkov, ‘"Big Bad Banks? The Impact of U.S. Branch Deregulation on Income Distribution’, Journal of Finance, 2007, 65, 5, 1637–67.

54. R. Herring and J. Carmassi, ‘The Structure of Cross-Sector Financial Supervision’, Financial Markets, Institutions & Instruments, 2008, 17, 51–76.

55. P. T. Spiller and E. Favaro, ‘The Effects of Entry Regulation on Oligopolistic Interaction in the Uruguayan Banking Sector’, Rand Journal of Economics, 1984, 15, 244–54.

56. J. Jayaratne and P. E. Strahan, ‘The Finance-Growth Nexus: Evidence from Bank Branch Deregulation’, Quarterly Journal of Economics, 1996, 111, 639–70.

57. K. Stiroh and P. E. Strahan, ‘Competitive Dynamics of Deregulation: Evidence for US Banking’, Journal of Money, Credit and Banking, 2003, 35, 801–28.

58. G. Gorton, ‘Banking Panics and Business Cycles’, Oxford Economic Papers, 1988, 40, 751–81.

59. J. Boyd and G. DeNicolo, ‘The Theory of Bank Risk Taking Revisited’, Journal of Finance, 2005, 60, 1329–43.

60. T. A. Beck, A. Demirguc-Kunt, and R. Levine, ‘Bank Concentration, Competition and Crises: First Results', Journal of Banking & Finance, 2006, 30, 1581–603.

61. M. K. Brunnermeier, ‘Deciphering the Liquidity and Credit Crunch 2007–08’, Journal of Economic Perspectives, 2009, 23, 77–100.

Volume IV: BANKS AND THE MACROECONOMY (I)

John O. S. Wilson, ‘Banks and the Macroeconomy’ (Introduction and Overview to Volumes IV and V).

62. J. G. Gurley and E. S. Shaw, ‘Financial Aspects of Economic Development’, American Economic Review, 1955, 45, 515–88.

63. M. Gertler, ‘Financial Structure and Aggregate Economic Activity’, Journal of Money, Credit and Banking, 1988, 559–88.

64. B. S. Bernanke and M. Gertler, ‘Inside the Black Box: The Credit Channel of Monetary Policy Transmission’, Journal of Economic Perspectives, 1995, 9, 27–48.

65. A. K. Kashyap and J. C. Stein, ‘What do a Million Observations on Banks Have to Say About the Transmission of Monetary Policy?’, American Economic Review, 2000, 90, 407–28.

66. R. G. Rajan and L. Zingales, ‘Financial Dependence and Growth’, American Economic Review, 1998, 88, 559–586.

67. L. Guiso, P. Sapienza, and L. Zingales, ‘Does Local Financial Development Matter?’, Quarterly Journal of Economics, 2004, 119, 929–70.

68. N. Cetorelli and M. Gamberra, ‘Banking Market Structure, Financial Dependence and Growth: International Evidence from Industry Data’, Journal of Finance, 2001, 56, 617–48.

69. A. Pozzolo and D. Focarelli, ‘Where Do Banks Expand Abroad? An Empirical Analysis’, Journal of Business, 2005, 2435–64.

70. B. Williams, ‘Positive Theories of Multinational Banking: Eclectic Theory Versus Internalisation Theory’, Journal of Economic Surveys, 1997, 11, 71–100.

Volume V: BANKS AND THE MACROECONOMY (II)

71. J. Peek and E. S. Rosengren, ‘Collateral damage: Effects of the Japanese Bank Crisis on Real Activity in the United States’, American Economic Review, 2000, 90, 30–45.

72. G. Dell’Ariccia, E. Detragiache, and R. Rajan, ‘The Real Effect of Banking Crises’, Journal of Financial Intermediation, 2008, 17, 89–112.

73. R. Dornbusch, Y. C. Park, and S. Claessens, ‘Contagion: Understanding How it Spreads’, World Bank Research Observer, 2000, 15, 177–97.

74. X. Freixas, B. M. Parigi, and J.-C. Rochet, ‘Systemic Risk, Interbank Relations and Liquidity Provision by the Central Bank’, Journal of Money, Credit and Banking, 2000, 32, 611–38.

75. F. Allen and E. Carletti, ‘Credit Risk Transfer and Contagion’, Journal of Monetary Economics, 2006, 53, 89–111.

76. H. Shin, ‘Securitisation and Financial Stability’, Economic Journal, 2009, 119, 309–32.

77. H. Elsinger, A. Lehar, and M. Summer, ‘Risk Assessment for Banking Systems’, Management Science, 2006, 52, 1301–14.

78. O. DeBandt, P. Hartmann, and J. L. Peydro, ‘Systemic Risk in Banking’, in A. N. Berger, P. Molyneux, and J. O. S. Wilson (eds.), Oxford Handbook of Banking (Oxford University Press, 2010).

79. D. Humphrey and J. McAndrews, ‘Payment Systems’, in A. N. Berger, P. Molyneux, and J. O. S. Wilson (eds.), Oxford Handbook of Banking (Oxford University Press, 2010).

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Description: Edited by John O. S. Wilson. It is almost universally agreed that banks are of central importance for economic growth, the efficient allocation of capital, financial stability, and the competitiveness and development of manufacturing and service sectors. And, at least in recent...
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