We present evidence that banking development plays a key role in technological progress.
We focus on manufacturing firms' innovative performance, measured by patent-based …

Using variation in bank scope generated by the stepwise repeal of the Glass–Steagall Act in
the US, we show that the deregulation of universal banks allowed them to finance firms with …

We investigate the relationship between foreign direct ownership of firms and firm-and
region-level output volatility using a novel panel data set for European countries. We …

This paper studies the domestic and international effects of national bank market integration
in a two-country, dynamic, stochastic, general equilibrium model with endogenous producer …

This paper studies the effects of financial deregulation that reduces monopoly power of
financial intermediaries, in a dynamic, stochastic, general equilibrium model with …

This paper uses data on publicly-traded firms in the US to analyze the effect of interstate
bank integration on the financial constraints borrowers face. A firm-level investment equation …

I present a theory of development in which heterogeneously talented entrepreneurs require
credit to start new projects and open new sectors. During development the variety of sectors …

Using data on 53 countries, this paper studies the unemployment effects of the far-reaching
banking liberalization that many countries engaged in between the late 1970s and the early …

The recent market turmoil has brought attention to how deregulation of the financial sector
may affect risk. The purpose of our study is to examine the market's perception of risk …

I explore the effect of banking concentration and banking competition on the volatility of the
growth of value added of manufacturing sectors in the developing countries. In this paper, I …