Thesis (Ph. D.)--York University, 2000. Graduate Programme in Business Administration. / Typescript. Includes bibliographical references (leaves 141-149). Also available on the Internet. MODE OF ACCESS via web browser by entering the following URL: http://wwwlib.umi.com/cr/yorku/fullcit?pNQ59137.

Thesis--M. Phil., University of Hong Kong, 1978.

Thesis (M.Com.(Ondernemingsbest.))--Universiteit van Pretoria, 2001. / Available on the Internet via the World Wide Web.

Thesis (Ph. D.)--York University, 2001. Graduate Programme in Business Management. / Typescript. Includes bibliographical references (leaves 151-156). Also available on the Internet. MODE OF ACCESS via web browser by entering the following URL: http://wwwlib.umi.com/cr/yorku/fullcit?pNQ66342.

The stylized fact of co-movement of lending and economic activity has been widely interpreted as evidence of a destabilizing feedback mechanism between the banking and real sectors, suggesting the special role of credit supply in amplifying financial and macroeconomic instability. Indeed, this “procyclicality” view significantly influences bank regulations internationally. Under the Basel III, the countercyclical capital buffer is exclusively designed to dampen the volatility of credit supply over the business cycle. The strong co-movement of lending and economic activity, however, is insufficient to confirm the existence of the procyclicality, given that both demand and supply of loans decline during economic downturns. If loan supply does not play a causal role, then any measure to strengthen lending capacity of banks would be ineffective in addressing this procyclicality issue. The literature, however, provides limited, otherwise inexistent, cross-country evidence to answer these fundamental questions. This research gap calls into question the sufficiency of international evidence to assess the effectiveness of the new capital measure, and more broadly, the regulatory reform. This cross-country econometric study covering 39 economies for the period 1990– 2009 examines these fundamental issues in detail. There are three main findings and policy implications. For banking stability, a significant procyclical pattern of loan supply exists, and such pattern is negatively associated with bank capital. These findings together support the view that the countercyclical capital buffers of Basel III could be effective tools for dampening loan volatility over the business cycle. For the regulatory reform, there is prevalent evidence that capital and liquidity are determinants of loan supply. This finding bears out the main Basel III argument that stronger capital and liquidity could strengthen the resilience of the global banking sector to macroeconomic shocks. For macroeconomic stability, empirical findings suggest a moderate macroeconomic effect of loan supply, particularly for developed economies. However, the finding does not imply a small impact of banking instability on the real sector. In fact, banking crises are estimated to have a larger independent negative effect on economic growth after controlling for the macroeconomic effect through impacts of banking crises on loan supply. There are two main policy implications of these findings. First, the main channel through which stronger capital and liquidity of banks help reduce macroeconomic instability would have an impact on reducing the likelihood of the occurrence of a banking crisis. Second, during non-crisis periods, bank regulations aiming at smoothing loan supply may have a relatively moderate impact on reducing macroeconomic instability. For policy to address banking procyclicality, the results show that aside from higher quantitative capital and liquidity requirements, more stringent definitions of capital could dampen loan supply procyclicality, which speaks in favor of recent policy initiatives to strengthen the quality of regulatory capital. More stringent bank regulations are also found to reduce loan supply procyclicality in countries with deposit insurance schemes. To reduce the propagations of loan supply shocks to the real sector, policy to improve the breadth of the stock market and the size of the domestic bond market would be useful. / published_or_final_version / Economics and Finance / Doctoral / Doctor of Philosophy

This dissertation examines two issues in the theory of banking: the role and efficiency of a monopoly bank in a spatial economy and, the design of a deposit insurance contract. Chapters 2 and 3 of the thesis present the development and analysis of a simple production economy with two types of agents. Lenders have an endowment of one unit of a good that may be consumed or invested in a firm. Firms have access to a project but lack the capital necessary to operate it and thus are forced to borrow: firms' projects are identically independently distributed crosssectionally. A simple information asymmetry prevents efficient contracting by lenders and firms and results in deadweight default costs being incurred. One way these deadweight costs could be avoided is to establish a "delegated monitor"—a bank—who collects deposits from the lenders and makes loans to firms. This may result in an efficiency gain since the firms' projects are Ltd. so, as the bank makes more loans, the probability that it defaults will be lower than the probability that an individual firm defaults. This diversification reduces the probability that the bank will fail and the probability that default costs are incurred. However, I assume that these costs are related to distance. This restricts the bank's ability to diversify and may induce costly strategic behavior on the part of the bank. The bank may also lend 'locally' in that it may attract deposits in a region yet not make loans to firms near those depositors. The social welfare implications of this bank are examined in Chapter 3. The results show that the socially optimal outcome is one that restricts the firms' ability to compete with the bank in the debt market and that credit rationing may also be efficient. Chapter 4 examines a model where a deposit insurance scheme is designed by a regulator whose objective is to maximize social welfare. There is a single bank in the economy which can be one of two types: the true type is unknown to the regulator. The results show that the regulator's efficacy is improved when regular insurance premia are combined with a premia that are refunded to solvent banks—akin to a deposit insurance fund.

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The satisfactory measurement of banking output has eluded statistical agencies since the inception of national income accounting. At the heart of the problem is the treatment of interest. Net interest payments are considered part of the output originating in the paying industries. When applied to the banking sector this practice results in unrealistically low or even negative output and an imputation is carried out to rectify the problem. This thesis identifies the problems surrounding the existing concepts and practices, discusses alternatives that have been proposed and develops a new approach to measuring banking output. The rate of interest is decomposed into a transfer and a service part and economic prices for banking services are constructed. Thus, nominal and real banking output are obtained in a straightforward manner. Empirical work points to the viability of the new approach.

Overall this thesis is concerned with the implementation and development of Internet banking in Thailand. Paper 1 is a literature review. It examines the development of Internet banking, world-wide rationale for the use of Internet banking, Internet banking in Thailand and the driving factors which influence banks to adopt Internet banking. The results of this study are beneficial to understanding why many banks in the world are starting to use Internet banking as a marketing tool for increasing competitive advantage over their rivals. / Paper 2 represents a survey of Thai banking customers and their interest or non-interest in using Internet banking. A number of hypotheses are developed and tested in this survey. The survey encompassed 485 persons, of whom 400 responded, throughout Thailand and attempted to assess and measure their attitudes towards Internet banking. Findings indicate that Internet banking is currently the least popular form of banking in Thailand (after ATM and branch banking). However, the younger group of customers, those aged between 18-30, ranked Internet branch banking first on their list of choices as the most desirable form of banking services. The results of this study are beneficial to the Thai banking sector in terms of providing a detailed understanding of customers' preferences for Internet banking. In addition, banks can apply this information to develop strategic plans focusing primarily on identified target groups, thereby providing better products and services. / Paper 3 develops a conceptual framework utilizing the results discussed in paper 2, to recommend to Thai banks appropriate promotional and servicing activities to encourage the development of Internet banking in Thailand. It includes a range of recommendations, over three specific time periods: short term, identified as up to 1.5 years, medium term specified as 1.5-3 years, and long term, identified as more than 3 years. Essentially, the recommended approach to Internet banking in Thailand concentrates on a developmental approach over these three periods. As defined by the results obtained in the survey discussed in paper 2, it is clear that Thai banks should consider younger, higher education level customers as potential customers. In addition, this paper also recommends how to use strategies for developing Internet banking but this should not be done to the exclusion of older, lower education level and lower income level customers. / Thesis (DBA(DBusinessAdministration))--University of South Australia, 2004