The Final Frontier: The Integration of Banking and Commerce, Part 1: The Likely Outcome of Eliminating the Barrier
Vol. 93, No. 1
Larry D. Wall, Alan K. Reichert, and Hsin-Yu Liang
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.
The Final Frontier: The Integration of Banking and Commerce, Part 2: Risk and Return Using Efficient Portfolio Analysis
Vol. 93, No. 2
Alan K. Reichert, Larry D. Wall, and Hsin-Yu Liang
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.
New Financing Trends in Latin America: An Overview of Selected Issues and Policy Challenges
Vol. 93, No. 3
Camilo E. Tovar and Myriam Quispe-Agnoli
This article summarizes a 2007 conference that explored the nature and implications of major transformations in Latin American financial markets, such as the shift from cross-border to domestic financing and the development of domestic bond markets.
The Evolution of the Check as a Means of Payment: A Historical Survey
Vol. 93, No. 4
Stephen Quinn and William Roberds
Despite their relative inefficiency, checks dominated the twentieth-century U.S. payment system. This article traces checks' thousand-year history, discussing how events created comparative advantages for checks that are only now being overcome by electronic payment methods.