This paper surveys the recent literature on the relationship between SMEs, financial
deepening and economic development. While a large SME sector is not associated with …

We combine recent findings from the empirical banking literature with established insights
from studies of banking competition and regulation. Motivated by modern theory of financial …

This paper explores the impact of digital finance development on bank liquidity creation.
Using 118 banks in China from 2011 to 2020, we find that digital finance development has a …

This paper is a review of the literature on fintech and its interaction with banking. Included in
fintech are innovations in payment systems (including cryptocurrencies), credit markets …

FinTech hypes abound. In the news, FinTech is “disruptive”,“revolutionary” and armed with
“digital weapons”, that will “tear down” barriers and traditional financial institutions (World …

Banks have no time for complacency. They need to re-evaluate their competitive advantages
in light of profound changes driven by advances in information technology (IT) and …

This paper empirically examines how capital affects a bank's performance (survival and
market share) and how this effect varies across banking crises, market crises, and normal …

Banking competition may enhance or hinder the financing of small and medium-sized
enterprises. Using a survey on the financing of such enterprises in China, combined with …

We use novel monthly survey data from 1993 to 2012 on small business managerial
perceptions of financial constraints and other conditions, matched with information on banks …

The resources misallocation among firms is serious in China, our calculation shows it has
resulted in the total factor productivity (hereafter, TFP) loss of over 200% and has been …