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Why Banks Have A Future: Toward A New Theory Of Commercial Banking

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  • Raghuram G. Rajan

Abstract

According to some observers, the commercial bank-an institution that conducts the twin activities of accepting deposits payable on demand and originating loans-has outlived its usefulness and is in a state of terminal decline. The broad statistical evidence for this contention, however, is somewhat mixed. While some studies suggest that the role of banks in the United States is declining, others suggest that banks are simply using new vehicles to offer their services and that their role has not diminished at all. 1996 Morgan Stanley.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1745-6622.1996.tb00119.x
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Bibliographic Info

Article provided by Morgan Stanley in its journal Journal of Applied Corporate Finance.

Volume (Year): 9 (1996)
Issue (Month): 2 ()
Pages: 114-128

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Handle: RePEc:bla:jacrfn:v:9:y:1996:i:2:p:114-128

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Cited by:
  1. Anthony Coleman & Neil Esho & Ian Sharpe, 2006. "Does Bank Monitoring Influence Loan Contract Terms?," Journal of Financial Services Research, Springer, vol. 30(2), pages 177-198, October.
  2. Schmidt, Reinhard H. & Hackethal, Andreas & Tyrell, Marcel, 1999. "Disintermediation and the Role of Banks in Europe: An International Comparison," Journal of Financial Intermediation, Elsevier, vol. 8(1-2), pages 36-67, January.
  3. Norden, Lars & Weber, Martin, 2005. "Funding Modes of German Banks: Structural Changes and its Implications," CEPR Discussion Papers 5027, C.E.P.R. Discussion Papers.
  4. Bonus, Holger & Greve, Rolf & Kring, Thorn & Polster, Dirk, 1999. "Der genossenschaftliche Finanzverbund als Strategisches Netzwerk: Neue Wege zur Kleinheit," Arbeitspapiere 16, Westfälsche Wilhelms-Universität Münster (WWU), Institut für Genossenschaftswesen.
  5. Ursel Baumann & Glenn Hoggarth & Darren Pain, 2005. "The substitution of bank for non-bank corporate finance: evidence for the United Kingdom," Bank of England working papers 274, Bank of England.
  6. Josef Schroth, 2012. "Financial Crisis Resolution," 2012 Meeting Papers 617, Society for Economic Dynamics.
  7. Kenneth Koford & Adrian E. Tschoegl, 1997. "Problems of Bank Lending in Bulgaria: Information Asymmetry and Institutional Learning," Center for Financial Institutions Working Papers 97-41, Wharton School Center for Financial Institutions, University of Pennsylvania.

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