Empirically analyzes the impact of deposit insurance on banks, the stability of the banking system, and the processes by which a country’s financial system evolves.
Taxation of Financial Intermediation
Reports on a project that assessed the many proposals for tax policy reform affecting the financial sector.
Draws on cross-country empirical analyses and detailed country case studies to determine the most opportune time to pursue bank privatization, how alternative transaction designs affect outcomes, and how to avoid common obstacles. Particular attention is paid to the political environment surrounding past efforts in this area.
Bank Concentration and Competition
Studies the impact of bank concentration, regulations, ownership and institutional development on (i) financial stability, (ii) bank margins, and (iii) firms’ access to financing.
Studies corporate governance issues in countries with different levels of financial development and investor protection, with a view to better understanding the policies that will help improve corporate governance mechanisms, given the constraints of different institutional environments.
Finance, Law and Growth
Establishes causal impact of financial intermediaries and financial markets on economic development; analyzes the determinants of an efficient and vibrant private sector, with a particular emphasis on legal system efficiency.