The Oxford Handbook of Banking, 3rd Edition

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The Oxford Handbook of Banking, 3rd Edition

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The Oxford Handbook of Banking, Third Edition provides an overview and analysis of developments and research in this rapidly evolving field. Aimed at graduate students of economics, banking, and finance; academics; practitioners; regulators; and policy makers, it strikes a balance between abstract theory, empirical analysis, and practitioner and policy-related material.

Split into five distinct parts The Oxford Handbook of Banking is a one-stop source of relevant research in banking. It examines the theory of banking, bank operations and performance, regulatory and policy perspectives, macroeconomic perspectives in banking, and international differences in banking structures and environments. Taking a global perspective it examines banking systems in the United States, China, Japan, Australia and New Zealand, Africa, the European Union, transition countries of Europe, and Latin America. Thematic issues covered include financial innovation and technological change; consumer and mortgage lending; Islamic banking; and how banks influence real economic activity.

Fully revised and now including brand new chapters on a range of geographical regions, bank bailouts and bail-ins, and behavioral economics amongst many other topics, this third edition of The Oxford Handbook of Banking provides readers with insights to seminal and contemporary research in banking and an opportunity to learn about the diversity of financial systems around the world.

1: Allen N. Berger, Phil Molyneux and John O.S. Wilson: Banking: An Overview
PART I: THE THEORY OF BANKING
2: Franklin Allen, Elena Carletti, and Xian Gu: The Roles of Banks in Financial Systems
3: Arnoud Boot and Anjan Thakor: Commercial Banking and Shadow Banking: The Accelerating Integration of Banks and Markets and its Implications for Regulation
4: Richard Herring and Jacopo Carmassi: Complexity and Systemic Risk: What's Changed After the Crisis?
5: Alan Morrison: Universal Banking
6: Jens Hagendorff: Corporate Governance in Banking
7: Linda Allen and Anthony Saunders: Risk Management in Banking
8: Christa Bouwman: Liquidity: How Banks Create it and How it should be Regulated
9: Kevin J. Stiroh: Diversification in Banking
PART II: BANK PERFORMANCE & OPERATIONS
10: Joe Hughes and Loretta Mester: Measuring the Performance of Banks: Theory, Practice, Evidence, and some Policy Implications
11: W. Scott Frame and Lawrence J. White: Technological Change, Financial Innovation, and Diffusion in Banking
12: Allen N. Berger: Small Business Lending By Banks: Lending Technologies and the Effects of Banking Industry Consolidation and Technological Change
13: Tom Durkin and Gregory Elliehausen: Consumer Lending
14: Gregory Donadio and Andreas Lehnert: Residential Mortgages
15: Barbara Casu and Anna Sarkisyan: Securitization
16: Adam Ashcraft, Tobias Adrian, and Nicola Cetorelli: Shadow Bank Monitoring
17: David Humphrey: Payments and Payment Systems
PART III: REGULATORY AND POLICY PERSPECTIVES
18: Michel Aglietta and Benoit Mojon: Central Banking
19: Joe Peek and Eric Rosengren: The Role of Banks in the Transmission of Monetary Policy
20: Xavier Freixas and Bruno Parigi: Lender of Last Resort and Bank Closure Policy: A Post-Crisis Perspective
21: Edward Kane: Regulation and Supervision: An Ethical Perspective
22: George G. Kaufman and Robert A. Eisenbeis: Deposit Insurance Issues in the Post 2008 Crisis World
23: Michael Gordy, Erik Heitfield, and Jason Wu: Risk-Based Regulatory Capital and the Basel Accords
24: Rob Bliss: Market Discipline in Financial Markets: Theory, Evidence, and Obstacles
25: Hans Degryse, Paolo Moralex Acevedo, and Steven Ongena: Competition in Banking
26: James R. Barth, Daniel Nolle, Tong (Cindy) Li, and Christopher Brummer: Systemically Important Banks (SIBs) in the Post-Crisis Era: The Global Response and Responses Around the Globe for 135 Countries
PART IV: MACROECONOMIC PERSPECTIVES
27: Philipp Hartmann, Olivier De Bandt, and Jose-Luis Peydro-Alcalde: Systemic Risk in Banking: An Update
28: Gerard Caprio and Patrick Honohan: Banking Crises: Those Hardy Perenials
29: Charles Calomiris: Bank Failures, the Great Depression, and other Contagious Events
30: Ricardo Correa and Horacio Sapriza: Sovereign Debt Crises
31: Claudia Buch and Gayle Delong: Banking Globalization: International Consolidation and Mergers in Banking
32: Asli Demirguc-Kunt and Martin Cihak: Revisiting the State's Role in Finance and Development
33: Nicola Cetorelli: Banking and Real Economic Activity
PART V: BANKING SYSTEMS AROUND THE WORLD
34: Robert Deyoung: Banking in the United States
35: John Goddard, Phil Molyneux, and John O.S. Wilson: Banking in the European Union: Deregulation, Crisis and Renewal
36: Hirofumi Uchida and Gregory Udell: Banking in Japan
37: Thorsten Beck and Robert Cull: Banking in Africa
38: Leora Klapper, Maria Soledad Martinez-Peria, and Bilal Zia: Banking in the Developing Nations of Asia: An Overview of Recent Changes in Ownership Structure
39: John Bonin, Iftekhar Hasan, and Paul Wachtel: Banking in Transition Countries
40: Jonathan Williams, Fernando Carvalho, and Luiz De Paula: Banking in Latin America

Allen N. Berger is the H. Montague Osteen, Jr., Professor in Banking and Finance, Moore School of Business, University of South Carolina; Senior Fellow, Wharton Financial Institutions Center; Extramural Fellow, CentER, Tilburg University; and Secretary/Treasurer, Financial Intermediation Research Society. He also currently serves on the editorial boards of six professional economics and finance journals. Professor Berger was Senior Economist from 1989 to 2008 and Economist from 1982-1989 at the Board of Governors of the Federal Reserve System. He is also past editor of the Journal of Money, Credit, and Banking, and has co-edited six special issues of various journals and the Oxford Handbook of Banking. He has published more than 100 professional articles, including papers in the Journal of Political Economy, American Economic Review, Journal of Monetary Economics, Journal of Finance, Journal of Financial Economics, and Review of Financial Studies.

Philip Molyneux is Dean of the College of Business, Law, Education and Social Sciences, and Professor of Banking and Finance at Bangor Business School, Bangor University, Wales. His main area of research is on the structure and efficiency of banking markets and he has published widely in this area, recent publications appear in the Journal of Money, Credit and Banking, Journal of Banking & Finance and the Review of Finance. In the past has acted as a consultant to: New York Federal Reserve Bank, World Bank, European Commission, UK Treasury; Citibank Private Bank, Barclays Wealth, McKinsey, Credit Suisse and various other international banks and consulting firms.

John O. S. Wilson is Professor of Banking and Finance and Director for the Centre for Responsible Banking and Finance at the University of St Andrews, Scotland. His research interests focus on the areas of industrial organization, banking and credit unions. He is Associate Editor to the British Accounting Review, European Journal of Finance and the Journal of Money Credit and Banking and sits on the editorial boards of a number of journals including the Journal of Business Finance and Accounting and the Journal of Financial Economic Policy. In the period June 2011 to April 2012, John served as a full member of a Commission on Credit Unions established by the Irish Government.

Contributors:
Paola Morales Acevedo, Tilburg University
Tobias Adrian, Federal Reserve Bank of New York
Michel Aglietta, University of Paris-X Nanterre
Franklin Allen, University of Pennsylvania
Linda Allen, City University of New York
Adam Ashcraft, Credit and Payments Risk Group
Olivier de Bandt, Banque de France and University of Paris X
James R. Barth, Auburn University
Thorsten Beck, Cass Business School, London and Tilburg University
Allen N. Berger, University of South Carolina
John P. Bonin, Wesleyan University
Arnoud W. A. Boot, University of Amsterdam
Christa H.S. Bouwman, Case Western Reserve University
Chris Brummer, Georgetown University
Claudia M. Buch, Halle Institute for Economic Research (IWH) and Otto von Guericke University
Charles W. Calomiris, Columbia University Graduate School of Business
Gerard Caprio, Williams College
Elena Carletti, Bocconi University
Fernando J. Cardim de Carvalho, Federal University of Rio de Janeiro
Jacopo Carmassi, Assonime, the Association of Joint Stock Companies
Barbara Casu, Cass Business School, City University London
Nicola Cetorelli, Federal Reserve Bank of New York
Martin Cihák, Global Financial Development Report (GFDR)
Ricardo Correa, Federal Reserve System
Robert Cull, World Bank
Hans Degryse, Universities of Leuven and Tilburg
Gayle L. DeLong, City University of New York
Asli Demirgüç-Kunt, World Bank
Robert DeYoung, University of Kansas School of Business
Gregory Donadio, Federal Reserve Board
Thomas A. Durkin, formerly at the Federal Reserve Board
Robert A. Eisenbeis, Cumberland Advisors
Gregory Elliehausen, Federal Reserve System
W. Scott Frame, University of North Carolina at Charlotte
Xavier Freixas, Universitat Pompeu Fabra
John Goddard, University of Wales, Bangor
Michael Gordy, Federal Reserve Board
Xian Gu, Wharton School of University of Pennsylvania
Jens Hagendorff, University of Edinburgh
Philipp Hartmann, European Central Bank
Iftekhar Hasan, Fordham University and Central Bank of Finland
Erik Heitfield, Federal Reserve Board
Richard J. Herring, The Wharton School, University of Pennsylvania
Patrick Honohan, Central Bank of Ireland
Joseph P. Hughes, Rutgers University
David Humphrey, Florida State University
Edward J. Kane, Boston College
George G. Kaufman, Loyola University Chicago
Leora Klapper, World Bank
Andreas Lehnert, Federal Reserve Board
Tong (Cindy) Li, Federal Reserve Bank of San Francisco
Maria Soledad Martinez Peria, World Bank
Loretta J. Mester, Federal Reserve Bank of Philadelphia
Benoit Mojon, Banque de France and Ecole Polytechnique
Philip Molyneux, Bangor University
Alan Morrison, University of Oxford
Daniel E. Nolle, Office of the Comptroller of the Currency (OCC)
Steven Ongena, University of Zurich and the Swiss Finance Institute
Bruno M. Parigi, University of Padova
Luiz Fernando de Paula, State University of Rio de Janeiro
Joe Peek, Federal Reserve Bank of Boston
José-Luis Peydró, Universitat Pompeu Fabra
Eric S. Rosengren, Federal Reserve Bank of Boston
Anthony Saunders, Stern School of Business, New York University
Horacio Sapriza, Federal Reserve System
Anna Sarkisyan, Essex Business School, University of Essex
Kevin J. Stiroh, Federal Reserve Bank of New York
Anjan Thakor, Olin Business School and Wells Fargo Associates Center for Finance and Accounting Research
Hirofumi Uchida, Kobe University
Gregory F. Udell, Indiana University
Paul Wachtel, New York University Stern School of Business
Lawrence J. White, Stern School of Business, New York University
Jonathan Williams, Bangor University
John O. S. Wilson, University of St Andrews
Jason Wu, Federal Reserve Board
Bilal Zia, Development Economics Research Group

"The Oxford Handbook of Banking, Second Edition provides a comprehensive evaluation of the role of banking in the world economy. Many of the top experts in the world integrate theory and evidence to help inform our understanding of banking and its regulation. There is careful analysis of recent events during the financial crisis as well as the full range of historical experience. The sophisticated discussion is useful both for banking experts and novices." - Douglas W. Diamond, Merton H. Miller Distinguished Service Professor of Finance, University of Chicago Booth School of Business

"The Oxford Handbook of Banking, Second Edition provides a comprehensive evaluation of the role of banking in the world economy. Many of the top experts in the world integrate theory and evidence to help inform our understanding of banking and its regulation. There is careful analysis of recent events during the financial crisis as well as the full range of historical experience. The sophisticated discussion is useful both for banking experts and novices." - Douglas W. Diamond, Merton H. Miller Distinguished Service Professor of Finance, University of Chicago Booth School of Business

"A good student of banking - practitioner, academic or policymaker - must understand equally well the microeconomics of financial intermediation as well as how it affects and is affected by policy and by the macroeconomy - local and global. It is a challenge to cover both of these issues without compromising on depth and rigor. This book achieves this rare feat and will serve as a ready reference in the post-crisis world for all interest in banking." - Viral V. Acharya, C.V.Starr Professor of Economics, Department of Finance, New York University Stern School of Business

"What do banks do and how do their actions influence the economy? How do governments influence banks and what does this mean for economic risk and prosperity? If you want to know the answers to these and other questions about banking, this comprehensive book by an all-star group of scholars provides insightful answers." -Ross Levine, Willis H. Booth Chair in Banking and Finance, University of California, Berkeley

"If the recent financial crisis has taught us anything, it is that banks and other financial intermediaries are both vital to an economy's health, as well as a source of enormous vulnerability. In this wide-ranging collection, Berger, Molyneux and Wilson bring together some of the best contemporary thinking on issues of enduring academic interest and pressing policy concern." - Jeremy Stein, Moise Y. Safra Professor of Economics, Harvard University