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Financial Intermediation and Technology: What’s Old, What’s New?

Financial Intermediation and Technology: What’s Old, What’s New? »

Source: Financial Intermediation and Technology: What's Old, What's New?

Volume/Issue: 2020/161

Series: IMF Working Papers

Author(s): Arnoud Boot , Peter Hoffmann , Luc Laeven , and Lev Ratnovski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 August 2020

ISBN: 9781513552491

Keywords: Financial Intermediation, Financial Innovation, Fintech, Information, Communication.

We study the effects of technological change on financial intermediation, distinguishing between innovations in information (data collection and processing) and communication (relationships and distribution). Both...

Financial Development and Economic Growth

Financial Development and Economic Growth »

Source: Financial Development and Economic Growth

Volume/Issue: 1992/101

Series: IMF Working Papers

Author(s): Pablo Guidotti , and Jose De Gregorio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1992

ISBN: 9781451852455

Keywords: Investment, financial intermediation, financial markets, financial repression, financial innovation, financial system

This paper examines the empirical relationship between long-run growth and the degree of financial development, proxied by the ratio of bank credit to the private sector as a fraction of GDP. We find that this prox...

Firm Productivity, innovation and Financial Development

Firm Productivity, innovation and Financial Development »

Source: Firm Productivity, innovation and Financial Development

Volume/Issue: 2010/49

Series: IMF Working Papers

Author(s): Genevieve Verdier , Erasmus Kersting , and Era Dabla-Norris

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

ISBN: 9781451963250

Keywords: innovation, survey data, financial development., survey, dummy variable, equation, stock market, Innovation and Invention: Processes and Incentives, Financial Development, General Financial Markets,

How do firm-specific actions-in particular, innovation-affect firm productivity? And what is the role of the financial sector in facilitating higher productivity? Using a rich firm-level dataset, we find that innov...

Macro-prudential Policy in a Fisherian Model of Financial Innovation*

Macro-prudential Policy in a Fisherian Model of Financial Innovation* »

Source: Macro-prudential Policy in a Fisherian Model of Financial Innovation

Volume/Issue: 2012/181

Series: IMF Working Papers

Author(s): Javier Bianchi , Emine Boz , and Enrique Mendoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2012

ISBN: 9781475505290

Keywords: Financial crises, financial innovation, macro-prudential regulation, Bayesian learning, collateral, bond, bonds, derivative

The interaction between credit frictions, financial innovation, and a switch from optimistic to pessimistic beliefs played a central role in the 2008 financial crisis. This paper develops a quantitative general equ...

Financial Innovation and Risk, the Role of Information

Financial Innovation and Risk, the Role of Information »

Source: Financial Innovation and Risk, the Role of Information

Volume/Issue: 2010/266

Series: IMF Working Papers

Author(s): Roberto Piazza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

ISBN: 9781455210732

Keywords: investors, financial innovation, investment strategies, hedge, hedge funds, Information, Great Moderation, Liquidation Crisis, General Financial Markets,

Financial innovation has increased diversification opportunities and lowered investment costs, but has not reduced the relative cost of active (informed) investment strategies relative to passive (less informed) st...

Financial innovation and Consumption in the United Kingdom

Financial innovation and Consumption in the United Kingdom »

Source: Financial innovation and Consumption in the United Kingdom

Volume/Issue: 1990/95

Series: IMF Working Papers

Author(s): Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1990

ISBN: 9781451950274

Keywords: financial deregulation, disposable income, financial innovation, consumption behavior, real interest rate

The last decade has seen widespread deregulation of domestic financial markets in the United Kingdom. This paper uses regional household data to investigate the connection between consumption and financial innovati...

Currency Substitution and Financial innovation

Currency Substitution and Financial innovation »

Source: Currency Substitution and Financial innovation

Volume/Issue: 1989/39

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 1989

ISBN: 9781451977295

Keywords: financial innovation, currency substitution, exchange rate, nominal exchange rate, real exchange rate

This paper presents a cash-in-advance framework, with variable income velocity, where the domestic effects, as well as the international transmission, of financial innovation can be analyzed. In particular, the dis...

China’s Monetary Policy and Interest Rate Liberalization

China’s Monetary Policy and Interest Rate Liberalization »

Source: China's Monetary Policy and Interest Rate Liberalization : Lessons from International Experiences

Volume/Issue: 2014/75

Series: IMF Working Papers

Author(s): Wei Liao , and Sampawende Tapsoba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2014

ISBN: 9781484366295

Keywords: Financial Liberalization, Financial Innovation, Money Demand Function, financial reforms, financial market, money demand, Financial Markets and the Macroeconomy, Monetary Policy (Targets, Instruments, and Effects)

China has been moving to a more market oriented financial system, which has implications for the monetary policy environment. The paper investigates the stability of the money demand function (MDF) in light of prog...

China’s Monetary Policy and Interest Rate Liberalization

China’s Monetary Policy and Interest Rate Liberalization »

Source: China's Monetary Policy and Interest Rate Liberalization : Lessons from International Experiences

Volume/Issue: 2014/75

Series: IMF Working Papers

Author(s): Wei Liao , and Sampawende Tapsoba

Publisher: Bank of Communications/New Finance

Publication Date: 15 May 2015

Language: Chinese

ISBN: 9781513554303

Keywords: Monetary policy, China, Interest rates, Demand for money, Financial sector, Banks, Cross country analysis, Financial Liberalization, Financial Innovation, and Money Demand Function

China has been moving to a more market oriented financial system, which has implications for the monetary policy environment. The paper investigates the stability of the money demand function (MDF) in light of prog...

Cyber Risk Surveillance: A Case Study of Singapore

Cyber Risk Surveillance: A Case Study of Singapore »

Source: Cyber Risk Surveillance: A Case Study of Singapore

Volume/Issue: 2020/28

Series: IMF Working Papers

Author(s): Joseph Goh , Heedon Kang , Zhi Xing Koh , Jin Way Lim , Cheng Wei Ng , Galen Sher , and Chris Yao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 February 2020

ISBN: 9781513526317

Keywords: Systemically important financial institutions, Financial crises, Financial institutions, Financial systems, Financial services, Cyber risk, financial innovation, systemic risk, stress test., WP

Cyber risk is an emerging source of systemic risk in the financial sector, and possibly a macro-critical risk too. It is therefore important to integrate it into financial sector surveillance. This paper offers a r...