This paper is a pioneering attempt to apply the quantile regression method (QRM) to the demand for lottery expenditure in order to consider the extreme behavior of lottery expenditure as well as clarify the diverse results obtained from previous studies on lottery expenditure. The results of...

This paper is a pioneering attempt to apply the quantile regression method (QRM) to the demand for lottery expenditure in order to consider the extreme behavior of lottery expenditure as well as clarify the diverse results obtained from previous studies on lottery expenditure. The results of...

In the first part (in the previous issue of Economic Review) of this two-part study, the authors identified a number of possible benefits from combining banking and commerce, including portfolio diversification, the creation of internal capital markets, and economies of scale and scope. This...

The policy debate on whether to strengthen or to remove the legal barriers between banking and commerce has paid little attention to what the practical effects of removing the barriers would be. To help answer this question, this article, the first part of a two-part study, provides an overview...

Using hypothetical portfolios created from historical data on industry profitability, the authors demonstrate that some combinations of banks with other industries could produce higher returns on equity with less risk.

Exploring the potential effects of removing the legal barriers between banks and commercial firms, this article surveys economic theory as well as experience in other developed countries and in U.S. nonbank conglomerates.

This paper estimates an Odedokun-type “supply-leading” model of financial sector development (FSD) which incorporates both banking and capital market variables as potential drivers of economic growth. The current findings illustrate the impact on economic growth of various measures of FSD...

The policy debate on whether to strengthen or to remove the legal barriers between banking and commerce has paid little attention to what the practical effects of removing the barriers would be. To help answer this question, this article, the first part of a two-part study, provides an overview...

In the first part (in the previous issue of Economic Review) of this two-part study, the authors identified a number of possible benefits from combining banking and commerce, including portfolio diversification, the creation of internal capital markets, and economies of scale and scope. This...

This study examines the impact of external factors, such as law, regulation, and technology on a country's rate of economic growth. The results suggest that the technological, legal, and regulatory environment can play a major role towards enhancing the smooth functioning of the financial system...