Financial systems have been expanding, offering more services for savings, credit, investment, insurance, and retirement. However, much remains to be done to provide quality services at low cost to people and small businesses in both urban and rural areas as well as in poorer regions where there are fewer profitable opportunities. The development of information and communication technology applied ...

This paper uses a comprehensive and detailed bank-level data set to study how the divergence of central bank balance sheet policy in the US vis-à-vis the euro area and Japan affects the supply of international US dollar loans by global banks. Our empirical findings support the view that the contractionary effect of US monetary normalization on global dollar liquidity would be offset by an expansionary ...