Innovation, Deregulation, and the Life Cycle of a Financial Service Industry
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Fumiko Hayashi & Bin Grace Li & Zhu Wang, 2017. "Innovation, Deregulation, and the Life Cycle of a Financial Service Industry," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 26, pages 180-203, October.
References listed on IDEAS
- Stijn Ferrari & Frank Verboven & Hans Degryse, 2010.
"Investment and Usage of New Technologies: Evidence from a Shared ATM Network,"
American Economic Review, American Economic Association, vol. 100(3), pages 1046-1079, June.
- Degryse, Hans & Ferrari, Stijn & Verboven, Frank, 2007. "Investment and Usage of New Technologies: Evidence from a Shared ATM Network," CEPR Discussion Papers 6592, C.E.P.R. Discussion Papers.
- Ferrari, S. & Verboven, F.L. & Degryse, H.A., 2007. "Investment and Usage of New Technologies : Evidence from a Shared ATM Network," Discussion Paper 2007-035, Tilburg University, Tilburg Law and Economic Center.
- Ferrari, S. & Verboven, F.L. & Degryse, H.A., 2007. "Investment and Usage of New Technologies : Evidence from a Shared ATM Network," Other publications TiSEM dd16c86d-20f3-4a74-b48b-9, Tilburg University, School of Economics and Management.
- Stijn Ferrari & Frank Verboven & Hans Degryse, 2007. "Investment and usage of new technologies: evidence form a shared ATM network," Working Papers of Department of Economics, Leuven ces0731, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
- Ferrari, S. & Verboven, F.L. & Degryse, H.A., 2008. "Investment and Usage of New Technologies : Evidence from a Shared ATM Network," Other publications TiSEM 505543f1-1037-4807-b33c-b, Tilburg University, School of Economics and Management.
- Ferrari, S. & Verboven, F.L. & Degryse, H.A., 2008. "Investment and Usage of New Technologies : Evidence from a Shared ATM Network," Discussion Paper 2008-1, Tilburg University, Center for Economic Research.
- Jovanovic, Boyan & MacDonald, Glenn M, 1994.
"The Life Cycle of a Competitive Industry,"
Journal of Political Economy, University of Chicago Press, vol. 102(2), pages 322-347, April.
- Jovanovic, B. & MacDonald, G.M., 1992. "The Life-Cycle of Competitive Industry," Papers 92-09, Rochester, Business - Financial Research and Policy Studies.
- Jovanovic, B. & MacDonald, G., 1993. "The Life Cycle of a Competitive Industry," Working Papers 93-34, C.V. Starr Center for Applied Economics, New York University.
- Boyan Jovanovic & Glenn MacDonald, 1993. "The Life-Cycle of a Competitive Industry," NBER Working Papers 4441, National Bureau of Economic Research, Inc.
- Darren Filson, 2001. "The Nature and Effects of Technological Change over the Industry Life Cycle," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(2), pages 460-494, July.
- Darren Filson & April Franco, 2000. "Knowledge diffusion through employee mobility," Staff Report 272, Federal Reserve Bank of Minneapolis.
- Petya Koeva Brooks, 2000. "The Facts About Time; To-Build," IMF Working Papers 2000/138, International Monetary Fund.
- Hubert P. Janicki & Edward Simpson Prescott, 2006. "Changes in the size distribution of U.S. banks: 1960-2005," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 92(Fall), pages 291-316.
- April Mitchell Franco & Darren Filson, 2006. "Spin‐outs: knowledge diffusion through employee mobility," RAND Journal of Economics, RAND Corporation, vol. 37(4), pages 841-860, December.
- Randall S. Kroszner & Philip E. Strahan, 1999. "What Drives Deregulation? Economics and Politics of the Relaxation of Bank Branching Restrictions," The Quarterly Journal of Economics, Oxford University Press, vol. 114(4), pages 1437-1467.
- Gautam Gowrisankaran & John Krainer, 2011. "Entry and pricing in a differentiated products industry: evidence from the ATM market," RAND Journal of Economics, RAND Corporation, vol. 42(1), pages 1-22, March.
- repec:rje:randje:v:37:y:2006:i:4:p:841-860 is not listed on IDEAS
- Mussa, Michael L, 1977. "External and Internal Adjustment Costs and the Theory of Aggregate and Firm Investment," Economica, London School of Economics and Political Science, vol. 44(174), pages 163-178, May.
- Matthew Mitchell, 2002. "Technological Change and the Scale of Production," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 477-488, April.
- Stijn Ferrari & Frank Verboven & Hans Degryse, 2010.
"Investment and Usage of New Technologies: Evidence from a Shared ATM Network,"
American Economic Review, American Economic Association, vol. 100(3), pages 1046-1079, June.
- Degryse, Hans & Ferrari, Stijn & Verboven, Frank, 2007. "Investment and Usage of New Technologies: Evidence from a Shared ATM Network," CEPR Discussion Papers 6592, C.E.P.R. Discussion Papers.
- Ferrari, S. & Verboven, F.L. & Degryse, H.A., 2008. "Investment and Usage of New Technologies : Evidence from a Shared ATM Network," Discussion Paper 2008-1, Tilburg University, Center for Economic Research.
- Ferrari, S. & Verboven, F.L. & Degryse, H.A., 2007. "Investment and Usage of New Technologies : Evidence from a Shared ATM Network," Other publications TiSEM dd16c86d-20f3-4a74-b48b-9, Tilburg University, School of Economics and Management.
- Ferrari, S. & Verboven, F.L. & Degryse, H.A., 2007. "Investment and Usage of New Technologies : Evidence from a Shared ATM Network," Discussion Paper 2007-035, Tilburg University, Tilburg Law and Economic Center.
- Stijn Ferrari & Frank Verboven & Hans Degryse, 2007. "Investment and usage of new technologies: evidence form a shared ATM network," Working Papers of Department of Economics, Leuven ces0731, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
- Ferrari, S. & Verboven, F.L. & Degryse, H.A., 2008. "Investment and Usage of New Technologies : Evidence from a Shared ATM Network," Other publications TiSEM 505543f1-1037-4807-b33c-b, Tilburg University, School of Economics and Management.
- Luís Cabral, 2012. "Technology uncertainty, sunk costs, and industry shakeout," Industrial and Corporate Change, Oxford University Press, vol. 21(3), pages 539-552, June.
- Zhu Wang, 2007.
"Technological Innovation and Market Turbulence: The Dot-com Experience,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(1), pages 78-105, January.
- Zhu Wang, 2005. "Technological innovation and market turbulence: the dot-com experience," Payments System Research Working Paper PSR WP 05-02, Federal Reserve Bank of Kansas City.
- Adam J. Fein, 1998. "Understanding evolutionary processes in non-manufacturing industries: Empirical insights from the shakeout in pharmaceutical wholesaling," Journal of Evolutionary Economics, Springer, vol. 8(3), pages 231-270.
- Steven Klepper & Kenneth L. Simons, 2000. "The Making of an Oligopoly: Firm Survival and Technological Change in the Evolution of the U.S. Tire Industry," Journal of Political Economy, University of Chicago Press, vol. 108(4), pages 728-760, August.
- Filson, Darren, 2002. "Product and process innovations in the life cycle of an industry," Journal of Economic Behavior & Organization, Elsevier, vol. 49(1), pages 97-112, September.
- Zhu Wang, 2008. "Income Distribution, Market Size and the Evolution of Industry," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(3), pages 542-565, July.
- Mcandrews James J., 2003. "Automated Teller Machine Network Pricing - A Review of the Literature," Review of Network Economics, De Gruyter, vol. 2(2), pages 1-13, June.
- Fumiko Hayashi & Richard J. Sullivan & Stuart E. Weiner, 2006. "A guide to the ATM and debit card industry - 2006 update," Monograph, Federal Reserve Bank of Kansas City, number 2006agttaadci2, August.
- Filson, Darren & Gretz, Richard T., 2004. "Strategic innovation and technology adoption in an evolving industry," Journal of Monetary Economics, Elsevier, vol. 51(1), pages 89-121, January.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Ester Faia & Gianmarco Ottaviano, 2017.
"Global Banking: Risk Taking and Competition,"
CEP Discussion Papers
dp1471, Centre for Economic Performance, LSE.
- Faia, Ester & Ottaviano, Gianmarco I. P., 2017. "Global banking: Risk taking and competition," LSE Research Online Documents on Economics 83601, London School of Economics and Political Science, LSE Library.
- Robert L. Hetzel, 2014. "Should Greece Remain in the Eurozone?," Economic Quarterly, Federal Reserve Bank of Richmond, issue 3Q, pages 241-278.
- Faia, Ester & Ottaviano, Gianmarco, 2017. "Global Banking: Endogenous Competition and Risk Taking," CEPR Discussion Papers 11940, C.E.P.R. Discussion Papers.
- Hetzel, Robert, 2015. "A Comparison of Greece and Germany: Lessons for the Eurozone?," Studies in Applied Economics 33, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
- Robert L. Hetzel, 2015. "A Comparison of Greece and Germany: Lessons for the Eurozone?," Working Paper 15-4, Federal Reserve Bank of Richmond.
- Li, Bin Grace & McAndrews, James & Wang, Zhu, 2020.
"Two-sided market, R&D, and payments system evolution,"
Journal of Monetary Economics, Elsevier, vol. 115(C), pages 180-199.
- Bin Grace Li & James McAndrews & Zhu Wang, 2019. "Two-Sided Market, R&D and Payments System Evolution," IMF Working Papers 2019/057, International Monetary Fund.
- Bin Grace Li & James J. McAndrews & Zhu Wang, 2019. "Two-sided Market, R&D and Payments System Evolution," Working Paper 19-3, Federal Reserve Bank of Richmond.
- Boyan Jovanovic & Zhu Wang, 2020.
"Idea Diffusion and Property Rights,"
Working Paper
20-11, Federal Reserve Bank of Richmond.
- Boyan Jovanovic & Zhu Wang, 2020. "Idea Diffusion and Property Rights," NBER Working Papers 28019, National Bureau of Economic Research, Inc.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Fumiko Hayashi & Grace B Li & Zhu Wang, 2015. "Innovation, Deregulation, and the Life Cycle of a Financial Service Industry," IMF Working Papers 2015/192, International Monetary Fund.
- Fumiko Hayashi & Zhu Wang, 2008. "Product innovation and network survival in the U.S. ATM and debit card network industry," Research Working Paper RWP 08-14, Federal Reserve Bank of Kansas City.
- Zhu Wang & Fumiko Hayashi, 2011. "Product Innovation and Network Survival in the U.S. ATM and Debit Card Industry," 2011 Meeting Papers 725, Society for Economic Dynamics.
- Luis Cabral & Zhu Wang & Daniel Yi Xu, 2018.
"Competitor, Complementors, Parents and Places: Explaining Regional Agglomeration in the U.S. Auto Industry,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 30, pages 1-29, October.
- Luis Cabral & Zhu Wang & Daniel Yi Xu, 2013. "Competitors, Complementors, Parents and Places: Explaining Regional Agglomeration in the U.S. Auto Industry," Working Papers 13-05, New York University, Leonard N. Stern School of Business, Department of Economics.
- Luís Cabral & Zhu Wang & Daniel Yi Xu, 2013. "Competitors, Complementors, Parents and Places: Explaining Regional Agglomeration in the U.S. Auto Industry," NBER Working Papers 18973, National Bureau of Economic Research, Inc.
- Luis Cabral & Zhu Wang & Daniel Yi Xu, 2013. "Competitors, complementors, parents and places: Explaining regional agglomeration in the U.S. auto industry," Working Paper 13-04, Federal Reserve Bank of Richmond.
- Cabral, Luís M B & Wang, Zhu & Xu, Yi (Daniel), 2013. "Competitors, Complementors, Parents and Places: Explaining Regional Agglomeration in the U.S. Auto Industry," CEPR Discussion Papers 9435, C.E.P.R. Discussion Papers.
- Bos, Jaap W.B. & Economidou, Claire & Sanders, Mark W.J.L., 2013. "Innovation over the industry life-cycle: Evidence from EU manufacturing," Journal of Economic Behavior & Organization, Elsevier, vol. 86(C), pages 78-91.
- Richard J. Sullivan & Zhu Wang, 2005.
"Internet banking: an exploration in technology diffusion and impact,"
Payments System Research Working Paper
PSR WP 05-05, Federal Reserve Bank of Kansas City.
- Richard J. Sullivan & Zhu Wang, 2013. "Internet banking: an exploration in technology diffusion and impact," Working Paper 13-10, Federal Reserve Bank of Richmond.
- Magnac, Thierry, 2017. "ATM foreign fees and cash withdrawals," Journal of Banking & Finance, Elsevier, vol. 78(C), pages 117-129.
- Christian Cordes & Peter Richerson & Georg Schwesinger, 2014.
"A corporation’s culture as an impetus for spinoffs and a driving force of industry evolution,"
Journal of Evolutionary Economics, Springer, vol. 24(3), pages 689-712, July.
- Christian Cordes & Peter J. Richerson & Georg Schwesinger, 2011. "A Corporation's Culture as an Impetus for Spinoffs and a Driving Force of Industry Evolution," Papers on Economics and Evolution 2011-11, Philipps University Marburg, Department of Geography.
- Filson, Darren & Gretz, Richard T., 2004. "Strategic innovation and technology adoption in an evolving industry," Journal of Monetary Economics, Elsevier, vol. 51(1), pages 89-121, January.
- Stijn Ferrari, 2010. "Discriminatory fees, coordination and investment in shared ATM networks," Working Paper Research 184, National Bank of Belgium.
- Kopsakangas-Savolainen Maria & Takalo Tuomas, 2014.
"Competition Before Sunset: The Case of the Finnish ATM Market,"
Review of Network Economics, De Gruyter, vol. 13(1), pages 1-33, March.
- Kopsakangas-Savolainen, Maria & Takalo, Tuomas, 2012. "Competition before sunset : The case of the Finnish ATM market," Research Discussion Papers 32/2012, Bank of Finland.
- Sonobe, Tetsushi & Hu, Dinghuan & Otsuka, Keijiro, 2004. "From inferior to superior products: an inquiry into the Wenzhou model of industrial development in China," Journal of Comparative Economics, Elsevier, vol. 32(3), pages 542-563, September.
- Boyan Jovanovic & Chung-Yi Tse, 2010.
"Entry and Exit Echoes,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 13(3), pages 514-536, July.
- Boyan Jovanovic & Chung-Yi Tse, 2009. "Code and data files for "Entry and Exit Echoes"," Computer Codes 09-105, Review of Economic Dynamics.
- Zhu Wang, 2008. "Income Distribution, Market Size and the Evolution of Industry," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(3), pages 542-565, July.
- Rajshree Agarwal & Barry L. Bayus, 2002. "The Market Evolution and Sales Takeoff of Product Innovations," Management Science, INFORMS, vol. 48(8), pages 1024-1041, August.
- Michael S. Dahl & Christian Ø.R. Pedersen & Bent Dalum, 2003. "Entry by Spinoff in a High-tech Cluster," DRUID Working Papers 03-11, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
- Laura Nurski & Frank Verboven, 2016.
"Exclusive Dealing as a Barrier to Entry? Evidence from Automobiles,"
Review of Economic Studies, Oxford University Press, vol. 83(3), pages 1156-1188.
- Laura NURSKI & Frank VERBOVEN, 2011. "Exclusive dealing as a barrier to entry? Evidence from automobiles," Working Papers of Department of Economics, Leuven ces11.37, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
- Nurski, Laura & Verboven, Frank, 2012. "Exclusive dealing as a barrier to entry? Evidence from automobiles," CEPR Discussion Papers 8762, C.E.P.R. Discussion Papers.
- Sampson, Thomas, 2012. "Brain drain or brain gain? Technology diffusion and learning on-the-job," LSE Research Online Documents on Economics 51503, London School of Economics and Political Science, LSE Library.
- Francisco J. Callado-Muñoz & Jana Hromcová & Natalia Utrero-González, 2012.
"Transformation of payment systems: the case of European Union enlargement,"
Applied Economics Letters, Taylor & Francis Journals, vol. 19(18), pages 1787-1791, December.
- Francisco José Callado Muñoz & Jana Hromcová & Natalia Utrero González, 2011. "Transformation of payment systems: The case of European Union enlargement," Working Papers. Serie AD 2011-23, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Dmitry I. Malakhov & Nikolay P. Pilnik & Igor G. Pospelov, 2015. "Stability of Distribution of Relative Sizes of Banks as an Argument for the Use of the Representative Agent Concept," HSE Working papers WP BRP 116/EC/2015, National Research University Higher School of Economics.
More about this item
JEL classification:
- G2 - Financial Economics - - Financial Institutions and Services
- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
- O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
NEP fields
This paper has been announced in the following NEP Reports:- NEP-BAN-2015-07-25 (Banking)
- NEP-COM-2015-07-25 (Industrial Competition)
- NEP-DGE-2015-07-25 (Dynamic General Equilibrium)
- NEP-INO-2015-07-25 (Innovation)
- NEP-SBM-2015-07-25 (Small Business Management)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedrwp:15-08. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://edirc.repec.org/data/frbrius.html .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.