The role of banking and finance in the Golden Age of European growth (1950-1973) is very little known and widely underestimated. This paper studies the French system of economic planning and investment-based strategy that enhanced medium and long-term financing (called “investment credit” at that time). First, I describe the new institutions that were built after WWII to organize credit allocat...

The role of banking and nance in the Golden Age of European growth (1950-1973) is very little known and widely underestimated. This paper studies the French system of economic planning and investment-based strategy that enhanced medium and long term nancing (called 'invest-ment credit'). First, I describe the new institutions that were built after WWII to organize credit allocation and especial...

Informal sector lenders remain a strong presence in rural India in terms of providing credit facilities in rural India. Farmers and rural poor borrowings from Money lenders and other informal sources of rural credit still significant this sources some extent i.e. 77 percent to 32 percent. In this situation micro finance has emerged as an alternative source of rural credit, microfinance programm...

Data envelopment analysis (DEA) is used to estimate the overall efficiency and productivity growth of credit cooperatives in Japan during 1992–1996. Overall efficiency is decomposed into output technical efficiency and input allocative efficiency. Twenty percent of all credit cooperatives in Japan are foreign owned with more than 90% of those owned by Koreans. The history of institutional discr...

The main purpose of this paper is to present the empirical findings derived from the data of small firms that the availability of private and public information on the borrowing firm leads to diverse borrowing patterns among firms. Exploring logit models to characterize the firm’s choice of a financial source, we find that firms whose information is poorly recorded, or who are publicly less rec...

Institutional investors and investment managers seek to better characterize the credit risk of online consumer loans. This article describes how to prepare the data and build a credit risk model that can be used for a number of applications including generating alpha, issuing protection and securitizing loans into bonds with the desired risk/reward profile. A simple example is used to provide i...

* We are in debt to a number of persons that helped us during this research. First, we t thank IEP and CEPES for providing a congenial place to work and discuss our hypotheses and progress. In these two institutions we thank Cecilia Blondet, IEP's Cajavilca for their support. We give special thanks to Hildegardi Venero for her wonderful assistance at the research stage. Second, we thank the ent...

The point has often been made that institutional arrangements are important in determining the way in which money is created and the effects that it has. The most recent phases of institutional development have been currently identified with liability management and off-balance-sheet activity. This paper argues that more recent changes, only some of them associated with the practice of banks’ b...

I use a novel database to construct structure of supply chains for 990 firms operating in five sectors of the US economy and present a methodology to measure the vertical position of each firm in the supply chain. I find that firms further up from the producers of final goods have on average larger net receivables and profits relative to their cost of production. In addition, the difference in ...