Handbook of Financial Intermediation and Banking

Preface

At one time, perhaps before the emergence of market microstructure as a rich field for research, financial intermediation was viewed by many as a distinct subfield of finance, along with corporate finance and asset pricing/investments. Although dominated by banking, financial intermediation also includes studies of nondepository institutions such as insurance companies, mutual funds, credit rating agencies, and the like. Some would even include market microstructure. The distinctiveness of financial intermediation as a research area stemmed in part from the fact that it was a highly specialized area, replete with institutional detail, banking practices, and descriptions of regulations, and was somewhat disconnected from the mainstream ...