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¿Cómo se deberían estructurar las instituciones y los mercados financieros? Análisis y opciones de diseño de sistemas financieros

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  • George G. Kaufman
  • Randall S. Kroszner
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    Abstract

    (Disponible en idioma inglés únicamente) En este trabajo se analizan las consecuencias de estructuras financieras alternativas para la eficiencia y la estabilidad financieras. La atención se centra en la estructura organizativa de los bancos. Las estructuras bancarias alternativas varían desde bancos especializados de ámbito restringido hasta bancos universales de ámbito mucho más amplio. Cada estructura bancaria se evalúa según su capacidad de satisfacer los objetivos de eficiencia y estabilidad en la estabilidad del sistema financieros, las economías de escala y alcance, la competencia, evitar los excesos regulatorios, los conflictos de intereses y la manipulación política, el control empresarial y la gestión de crisis financieras, y el control monetario. Ninguna reforma sirve para todos los países por igual y ninguna reforma garantiza por sí sola el logro o el mantenimiento de los objetivos.

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    Bibliographic Info

    Paper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 4055.

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    Date of creation: Feb 1997
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    Handle: RePEc:idb:wpaper:4055

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    1. King, Robert G. & Levine, Ross, 1993. "Finance and growth : Schumpeter might be right," Policy Research Working Paper Series 1083, The World Bank.
    2. Randall S. Kroszner & Thomas Stratmann, 1996. "Interest Group Competition and the Organization of Congress:Theory And Evidence from Financial Services Political Action Committees," University of Chicago - George G. Stigler Center for Study of Economy and State 126, Chicago - Center for Study of Economy and State.
    3. Edward J. Kane & Min-Teh Yu, 1994. "How much did capital forbearance add to the tab for FSLIC mess?," Proceedings 33, Federal Reserve Bank of Chicago.
    4. Billett, Matthew T & Flannery, Mark J & Garfinkel, Jon A, 1995. " The Effect of Lender Identity on a Borrowing Firm's Equity Return," Journal of Finance, American Finance Association, vol. 50(2), pages 699-718, June.
    5. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
    6. Kroszner, Randall S. & Rajan, Raghuram G., 1997. "Organization structure and credibility: Evidence from commercial bank securities activities before the Glass-Steagall Act," Journal of Monetary Economics, Elsevier, vol. 39(3), pages 475-516, August.
    7. George J. Benston & George G. Kaufman, 1988. "Risk and solvency regulation of depository institutions: past policies and current options," Staff Memoranda 88-1, Federal Reserve Bank of Chicago.
    8. Kroszner, Randall S & Rajan, Raghuram G, 1994. "Is the Glass-Steagall Act Justified? A Study of the U.S. Experience with Universal Banking before 1933," American Economic Review, American Economic Association, vol. 84(4), pages 810-32, September.
    9. Tyler Cowen & Randall Kroszner, 1990. "Mutual Fund Banking: A Market Approach," Cato Journal, Cato Journal, Cato Institute, vol. 10(1), pages 223-237, Spring/Su.
    10. King, Robert G. & Levine, Ross, 1993. "Finance and growth : Schumpeter might be right," Policy Research Working Paper Series 1083, The World Bank.
    11. Klein, Benjamin & Leffler, Keith B, 1981. "The Role of Market Forces in Assuring Contractual Performance," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 615-41, August.
    12. White, Eugene Nelson, 1986. "Before the Glass-Steagall Act: An analysis of the investment banking activities of national banks," Explorations in Economic History, Elsevier, vol. 23(1), pages 33-55, January.
    13. Boyd, John H. & Graham, Stanley L. & Hewitt, R. Shawn, 1993. "Bank holding company mergers with nonbank financial firms: Effects on the risk of failure," Journal of Banking & Finance, Elsevier, vol. 17(1), pages 43-63, February.
    14. Peltzman, Sam, 1970. "Capital Investment in Commercial Banking and Its Relationship to Portfolio Regulation," Journal of Political Economy, University of Chicago Press, vol. 78(1), pages 1-26, Jan.-Feb..
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