Franklin Allen

Imperial College London

South Kensington Campus

Exhibition Road

London, Greater London SW7 2AZ

United Kingdom

  • Imperial College London

SCHOLARLY PAPERS

125

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Scholarly Papers (125)

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1.

Payout Policy

Downloads 5,054 ( 1,172)
Citation 97

Payout Policy

Number of pages: 148 Posted: 10 May 2002
Roni Michaely and Franklin Allen
The University of Hong Kong and Imperial College London
Downloads 5,054 (3,081)
Citation 67

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Payout policy, dividends, repurchases

2.

China's Financial System: Past, Present, and Future

Number of pages: 63 Posted: 05 Aug 2005
Franklin Allen, Jun "QJ" Qian and Meijun Qian
Imperial College London, Fanhai International School of Finance, Fudan University and Zhejiang University International Business School
Downloads 4,774 (3,436)
Citation 25

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banks, non-performing loans, markets, corporate governance, hybrid sector, financial crisis

3.

Networks in Finance

Wharton Financial Institutions Center Working Paper No. 08-07
Number of pages: 20 Posted: 19 Feb 2008 Last Revised: 04 Dec 2011
Franklin Allen and Ana Babus
Imperial College London and Washington University in St. Louis - Department of Economics
Downloads 4,722 (3,496)
Citation 160

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4.

A Survey of Fintech Research and Policy Discussion

Review of Corporate Finance 1 (2021), 259-339, FRB of Philadelphia Working Paper No. 20-21
Number of pages: 56 Posted: 09 Jun 2020 Last Revised: 31 Mar 2022
Franklin Allen, Xian Gu and Julapa Jagtiani
Imperial College London, Durham University Business School and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 4,093 (4,445)
Citation 44

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5.

The Role of Liquidity in Financial Crises

Number of pages: 37 Posted: 19 Sep 2008 Last Revised: 26 Jan 2014
Franklin Allen and Elena Carletti
Imperial College London and Bocconi University - Department of Finance
Downloads 4,023 (4,570)
Citation 55

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6.

Stakeholder Capitalism, Corporate Governance and Firm Value

EFA 2007 Ljubljana Meetings Paper, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 190/2007, Wharton Financial Institutions Center Working Paper #09-28
Number of pages: 45 Posted: 05 Mar 2007 Last Revised: 06 Dec 2018
Franklin Allen, Elena Carletti and Robert Marquez
Imperial College London, Bocconi University - Department of Finance and University of California, Davis
Downloads 3,944 (4,723)
Citation 47

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Firm objective, co-determination, imperfect competition

7.

Law, Finance, and Economic Growth in China

Downloads 3,340 ( 6,281)
Citation 657

Law, Finance, and Economic Growth in China

U of Penn, Inst for Law & Econ Research Paper No. 03-21
Number of pages: 60 Posted: 04 Feb 2003
Franklin Allen, Jun "QJ" Qian and Meijun Qian
Imperial College London, Fanhai International School of Finance, Fudan University and Zhejiang University International Business School
Downloads 2,113 (12,701)
Citation 27

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Law and finance, economic growth, private sector, corporate governance, reputation and relationships

Law, Finance, and Economic Growth in China

Journal of Financial Economics, Vol. 77, No. 1, pp. 57-116, July 2005
Number of pages: 62 Posted: 02 Aug 2005 Last Revised: 05 Dec 2011
Franklin Allen, Jun "QJ" Qian and Meijun Qian
Imperial College London, Fanhai International School of Finance, Fudan University and Zhejiang University International Business School
Downloads 1,227 (29,184)
Citation 126

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China, law and finance, economic growth, private sector, corporate governance, reputation and relationships

8.

Financial Crises: Theory and Evidence

Downloads 2,892 ( 7,861)

Financial Crises: Theory and Evidence

Number of pages: 44 Posted: 22 Jun 2009 Last Revised: 26 Jan 2014
Ana Babus, Elena Carletti and Franklin Allen
Washington University in St. Louis - Department of Economics, Bocconi University - Department of Finance and Imperial College London
Downloads 2,892 (7,729)
Citation 8

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Financial Crises: Theory and Evidence

Posted: 04 Jun 2010
Franklin Allen and Ana Babus
Imperial College London and Washington University in St. Louis - Department of Economics

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9.

Comparing China's Financial System

China Journal of Finance, Vol. 1, pp. 1-28, June 2003
Number of pages: 48 Posted: 18 Sep 2003
Franklin Allen, Jun "QJ" Qian and Meijun Qian
Imperial College London, Fanhai International School of Finance, Fudan University and Zhejiang University International Business School
Downloads 2,686 (8,782)
Citation 9

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financial system, banking system, financial markets, economic growth, informal sector

10.

Dissecting the Long-term Performance of the Chinese Stock Market

Forthcoming, Journal of Finance
Number of pages: 93 Posted: 05 Dec 2016 Last Revised: 16 May 2023
Franklin Allen, Jun "QJ" Qian, Chenyu Shan and Julie Zhu
Imperial College London, Fanhai International School of Finance, Fudan University, Shanghai University of Finance and Economics and Fanhai International School of Finance(FISF), Fudan University
Downloads 2,284 (11,725)
Citation 21

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Stock market, return, IPO, investment, net cash flow, behavioral bias

11.

Market Efficiency and Limits to Arbitrage: Evidence from the Volkswagen Short Squeeze

Journal of Financial Economics (Forthcoming)
Number of pages: 100 Posted: 01 Jun 2017 Last Revised: 09 Feb 2021
Franklin Allen, Marlene Haas, Eric Nowak and Angel Tengulov
Imperial College London, Independent, Swiss Finance Institute and University of Kansas - School of Business
Downloads 2,266 (11,572)
Citation 12

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Limits to arbitrage, short selling, stock cornering, disclosure and securities regulation.

12.

Squeezing Shorts Through Social Media Platforms

Swiss Finance Institute Research Paper No. 21-31
Number of pages: 92 Posted: 12 Apr 2021 Last Revised: 11 Sep 2023
Franklin Allen, Marlene Haas, Eric Nowak, Matteo Pirovano and Angel Tengulov
Imperial College London, Independent, Swiss Finance Institute, Universita della Svizzera italiana (USI Lugano) and University of Kansas - School of Business
Downloads 1,869 (15,734)
Citation 6

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Limits to arbitrage; Short selling; Short squeeze; Gamma squeeze; GameStop, Social media platforms, Retail investors

13.

Beauty Contests, Bubbles and Iterated Expectations in Asset Markets

Cowles Foundation Discussion Paper No. 1406; AFA 2004 San Diego Meetings
Number of pages: 38 Posted: 08 Mar 2003
Franklin Allen, Stephen Morris and Hyun Song Shin
Imperial College London, MIT and Bank for International Settlements (BIS)
Downloads 1,770 (17,107)
Citation 5

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Beauty Contests, Bubbles, Noisy Rational Expectations Equilibrium, Martingales, Public Information, Asset Prices

14.

India's Financial System

Number of pages: 109 Posted: 31 Aug 2008
Franklin Allen, Rajesh Chakrabarti and Sankar De
Imperial College London, O. P. Jindal Global University and Independent
Downloads 1,755 (17,352)
Citation 4

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India, capital markets, microfinance, corporate finance

15.

An Introduction to Financial Crises

Wharton Financial Institutions Center Working Paper No. 07-20
Number of pages: 41 Posted: 22 Aug 2007
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics
Downloads 1,752 (17,422)
Citation 5

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16.

Financing Firms in India

Downloads 1,549 (20,980)
Citation 34

Financing Firms in India

EFA 2006 Zurich Meetings
Number of pages: 63 Posted: 30 Jun 2006 Last Revised: 05 Dec 2011
Franklin Allen, Rajesh Chakrabarti, Sankar De, Jun "QJ" Qian and Meijun Qian
Imperial College London, O. P. Jindal Global University, Independent, Fanhai International School of Finance, Fudan University and Zhejiang University International Business School
Downloads 918 (44,161)
Citation 3

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India, banks, markets, alternative finance, growth

Financing Firms in India

World Bank Policy Research Working Paper No. 3975
Number of pages: 67 Posted: 20 Apr 2016
Franklin Allen, Rajesh Chakrabarti, Sankar De, Jun "QJ" Qian and Meijun Qian
Imperial College London, O. P. Jindal Global University, Independent, Fanhai International School of Finance, Fudan University and Zhejiang University International Business School
Downloads 502 (96,941)

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Banks & Banking Reform, Corporate Law, Financial Intermediation, Governance Indicators, Small Scale Enterprise

Financing Firms in India

Journal of Financial Intermediation, Forthcoming
Number of pages: 56 Posted: 03 Jan 2012
Franklin Allen, Jun "QJ" Qian, Meijun Qian, Rajesh Chakrabarti and Sankar De
Imperial College London, Fanhai International School of Finance, Fudan University, Zhejiang University International Business School, O. P. Jindal Global University and Independent
Downloads 129 (376,245)
Citation 4

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India, banks, markets, alternative finance, growth

17.

Large Investors, Price Manipulation, and Limits to Arbitrage: An Anatomy of Market Corners

Downloads 1,514 (21,800)
Citation 25

Large Investors, Price Manipulation, and Limits to Arbitrage: An Anatomy of Market Corners

Number of pages: 42 Posted: 04 Jan 2005
Franklin Allen, Lubomir P. Litov and Jianping Mei
Imperial College London, University of Oklahoma - Michael F. Price College of Business and Cheung Kong Graduate School of Business
Downloads 1,138 (32,621)
Citation 10

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limits to arbitrage, manipulation, market corner

Large Investors, Price Manipulation, and Limits to Arbitrage: An Anatomy of Market Corners

NYU Working Paper No. FIN-04-038
Number of pages: 42 Posted: 03 Nov 2008
Franklin Allen, Lubomir P. Litov and Jianping Mei
Imperial College London, University of Oklahoma - Michael F. Price College of Business and Cheung Kong Graduate School of Business
Downloads 376 (136,597)
Citation 3

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18.

Entrusted Loans: A Close Look at China's Shadow Banking System

Downloads 1,401 (24,408)
Citation 57

Entrusted Loans: A Close Look at China's Shadow Banking System

Journal of Financial Economics (JFE), 2019
Number of pages: 60 Posted: 22 Jun 2015 Last Revised: 15 Jun 2019
Franklin Allen, Yiming Qian, Guoqian Tu and Frank Yu
Imperial College London, University of Connecticut - Department of Finance, Chongqing University and China Europe International Business School
Downloads 1,401 (24,070)
Citation 64

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shadow banking, entrusted loans, credit shortage, fundamental risk, informational risk

Entrusted Loans: A Close Look at China's Shadow Banking System

CEPR Discussion Paper No. DP12864
Number of pages: 63 Posted: 16 Apr 2018
Franklin Allen, Yiming Qian, Guoqian Tu and Frank Yu
Imperial College London, University of Connecticut - Department of Finance, Chongqing University and China Europe International Business School
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credit shortage, entrusted loans, fundamental risk, informational risk, shadow banking

19.

The Foundations of Financial Inclusion: Understanding Ownership and Use of Formal Accounts

World Bank Policy Research Working Paper No. 6290
Number of pages: 58 Posted: 20 Apr 2016
Franklin Allen, Asli Demirgüç-Kunt, Leora F. Klapper and Maria Soledad Martinez Peria
Imperial College London, World Bank, World Bank and International Monetary Fund (IMF)
Downloads 1,393 (24,691)
Citation 43

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Access to Finance, Banks & Banking Reform, Emerging Markets, Debt Markets, Economic Theory & Research

20.

Competition and Financial Stability

Downloads 1,389 (24,750)
Citation 27

Competition and Financial Stability

NYU Working Paper No. S-FI-03-06
Number of pages: 46 Posted: 11 Nov 2008
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics
Downloads 1,389 (24,323)
Citation 27

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Competition and Financial Stability

Wharton Financial Institutions Center Working Paper No. 03-26
Posted: 06 Oct 2003
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics

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21.

Ownership Networks and Firm Growth: What Do Forty Million Companies Tell Us About the Chinese Economy?

Number of pages: 75 Posted: 16 Oct 2019 Last Revised: 29 Aug 2022
Franklin Allen, Junhui Cai, Xian Gu, Jun "QJ" Qian, Linda Zhao and Wu Zhu
Imperial College London, University of Notre Dame - Mendoza College of Business, Durham University Business School, Fanhai International School of Finance, Fudan University, University of Pennsylvania - Statistics Department and School of Economics and Management, Tsinghua University
Downloads 1,151 (32,584)
Citation 5

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Ownership network; Equity capital; Firm growth; Bank credit

22.

Systemic Risk and Regulation

Wharton Financial Institutions Center Working Paper No. 95-24
Number of pages: 35 Posted: 30 Aug 2005
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics
Downloads 1,045 (37,394)
Citation 19

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23.

Mark-to-Market Accounting and Liquidity Pricing

Number of pages: 32 Posted: 26 Jul 2006
Franklin Allen and Elena Carletti
Imperial College London and Bocconi University - Department of Finance
Downloads 996 (40,001)
Citation 61

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Mark-to-market, historical cost, incomplete markets

24.

Review of China's Financial System and Initiatives for the Future

Wharton Financial Institutions Center Working Paper No. 08-28
Number of pages: 70 Posted: 31 Jul 2008
Franklin Allen, Jun "QJ" Qian, Meijun Qian, Mengxin Zhao and Mengxin Zhao
Imperial College London, Fanhai International School of Finance, Fudan University, Zhejiang University International Business School and Securities and Exchange Commission (SEC)Independent
Downloads 978 (41,096)
Citation 19

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banks, non-performing loans, markets, corporate governance, hybrid sector, financial crisis

25.

Does Economic Structure Determine Financial Structure?

AFA 2007 Chicago Meetings Paper, Journal of International Economics, Forthcoming
Number of pages: 68 Posted: 16 Mar 2006 Last Revised: 30 Jan 2019
Franklin Allen, Laura Bartiloro, Xian Gu and Oskar Kowalewski
Imperial College London, Bank of Italy, Durham University Business School and IESEG School of Management
Downloads 972 (41,369)
Citation 15

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Financial system, Real economic structures

26.

The Financial System of the EU 25

Number of pages: 27 Posted: 27 Dec 2005
Franklin Allen, Laura Bartiloro and Oskar Kowalewski
Imperial College London, Bank of Italy and IESEG School of Management
Downloads 874 (47,929)
Citation 14

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27.

Corruption and Competition

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Citation 1

Corruption and Competition

Number of pages: 56 Posted: 02 Nov 2015 Last Revised: 27 Sep 2018
Franklin Allen, Jun "QJ" Qian and Lin Shen
Imperial College London, Fanhai International School of Finance, Fudan University and INSEAD
Downloads 806 (52,969)
Citation 4

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Corruption, institutions, competition, taxes, user fee

Corruption and Competition

CEPR Discussion Paper No. DP13218
Number of pages: 59 Posted: 08 Oct 2018
Franklin Allen, Jun "QJ" Qian and Lin Shen
Imperial College London, Fanhai International School of Finance, Fudan University and INSEAD
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Competition, Corruption, institutions, taxes, user fee

28.

China’s Financial System: Opportunities and Challenges

Downloads 658 (70,093)
Citation 32

China’s Financial System: Opportunities and Challenges

Number of pages: 83 Posted: 17 Oct 2011
Franklin Allen, Jun "QJ" Qian, Chenying Zhang, Mengxin Zhao and Mengxin Zhao
Imperial College London, Fanhai International School of Finance, Fudan University, University of Pennsylvania - The Wharton School and Securities and Exchange Commission (SEC)Independent
Downloads 442 (112,833)
Citation 3

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banks, non-performing loans, markets, hybrid sector, financial crisis

China's Financial System: Opportunities and Challenges

NBER Working Paper No. w17828
Number of pages: 83 Posted: 10 Feb 2012 Last Revised: 20 Mar 2022
Franklin Allen, Jun "QJ" Qian, Chenying Zhang, Mengxin Zhao and Mengxin Zhao
Imperial College London, Fanhai International School of Finance, Fudan University, University of Pennsylvania - The Wharton School and Securities and Exchange Commission (SEC)Independent
Downloads 216 (242,614)
Citation 10

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29.

Improving Access to Banking: Evidence from Kenya

Downloads 628 (74,213)
Citation 13

Improving Access to Banking: Evidence from Kenya

Number of pages: 38 Posted: 17 Jul 2012
Franklin Allen, Elena Carletti, Robert Cull, Jun "QJ" Qian, Lemma W. Senbet and Patricio Valenzuela
Imperial College London, Bocconi University - Department of Finance, World Bank - Development Research Group (DECRG), Fanhai International School of Finance, Fudan University, University of Maryland - Robert H. Smith School of Business and Universidad de los Andes, Chile
Downloads 233 (224,682)
Citation 3

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Equity Bank, bank penetration, bank account, minority language, microfinance

Improving Access to Banking: Evidence from Kenya

BAFFI CAREFIN Centre Research Paper No. 2018-104
Number of pages: 58 Posted: 23 Dec 2018
Elena Carletti, Lemma W. Senbet, Robert Cull, Franklin Allen, Jun "QJ" Qian and Patricio Valenzuela
Bocconi University - Department of Finance, University of Maryland - Robert H. Smith School of Business, World Bank - Development Research Group (DECRG), Imperial College London, Fanhai International School of Finance, Fudan University and Universidad de los Andes, Chile
Downloads 157 (321,176)
Citation 4

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Equity Bank, bank penetration, bank account, microfinance

Improving Access to Banking: Evidence from Kenya

World Bank Policy Research Working Paper No. 6593
Number of pages: 39 Posted: 20 Apr 2016
Franklin Allen, Elena Carletti, Robert Cull, Jun "QJ" Qian, Lemma W. Senbet and Patricio Valenzuela
Imperial College London, Bocconi University - Department of Finance, World Bank - Development Research Group (DECRG), Fanhai International School of Finance, Fudan University, University of Maryland - Robert H. Smith School of Business and Universidad de los Andes, Chile
Downloads 128 (378,485)

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Banks & Banking Reform, Access to Finance, Public Sector Corruption & Anticorruption Measures, Corporate Law, Debt Markets

Improving Access to Banking: Evidence from Kenya

Forthcoming, Review of Finance
Number of pages: 53 Posted: 06 Oct 2020
Franklin Allen, Elena Carletti, Robert Cull, Jun "QJ" Qian, Lemma W. Senbet and Patricio Valenzuela
Imperial College London, Bocconi University - Department of Finance, World Bank - Development Research Group (DECRG), Fanhai International School of Finance, Fudan University, University of Maryland - Robert H. Smith School of Business and Universidad de los Andes, Chile
Downloads 109 (426,999)

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Equity Bank, financial access, bank penetration, bank account, microfinance

Improving Access to Banking: Evidence from Kenya

CEPR Discussion Paper No. DP9840
Number of pages: 54 Posted: 02 Jun 2014
Franklin Allen, Elena Carletti, Robert Cull, Jun "QJ" Qian, Lemma W. Senbet and Patricio Valenzuela
Imperial College London, Bocconi University - Department of Finance, World Bank - Development Research Group (DECRG), Fanhai International School of Finance, Fudan University, University of Maryland - Robert H. Smith School of Business and Universidad de los Andes, Chile
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Citation 6
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bank account, bank penetration, Equity Bank, microfinance, minority language

30.

Stakeholder Governance, Competition and Firm Value

Downloads 623 (74,957)
Citation 31

Stakeholder Governance, Competition and Firm Value

CESifo Working Paper Series No. 4652
Number of pages: 42 Posted: 13 Mar 2014
Franklin Allen, Elena Carletti and Robert Marquez
Imperial College London, Bocconi University - Department of Finance and University of California, Davis
Downloads 467 (105,762)
Citation 4

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Stakeholder Governance, Competition and Firm Value

Review of Finance (Forthcoming)
Number of pages: 43 Posted: 28 Oct 2013 Last Revised: 18 Oct 2014
Franklin Allen, Elena Carletti and Robert Marquez
Imperial College London, Bocconi University - Department of Finance and University of California, Davis
Downloads 156 (322,942)

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31.

How Should Bank Liquidity Be Regulated?

Number of pages: 29 Posted: 21 Apr 2017
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics
Downloads 614 (76,281)
Citation 15

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32.

People's Bank of China: History, Current Operations and Future Outlook

Number of pages: 53 Posted: 15 Aug 2017 Last Revised: 12 Oct 2017
Franklin Allen, Xian Gu and Jun "QJ" Qian
Imperial College London, Durham University Business School and Fanhai International School of Finance, Fudan University
Downloads 599 (78,688)
Citation 2

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Central bank; History; Monetary policy; Financial reform

33.

Transmission of Bank Liquidity Shocks in Loan and Deposit Markets: The Role of Interbank Borrowing and Market Monitoring

Journal of Financial Stability, Vol. 15, 2014, Wharton Financial Institutions Center Working Paper 10-28, Fifth Singapore International Conference on Finance 2011
Number of pages: 33 Posted: 14 Nov 2010 Last Revised: 07 Aug 2015
Franklin Allen, Aneta Hryckiewicz, Oskar Kowalewski, Gunseli Tumer-Alkan and Gunseli Tumer-Alkan
Imperial College London, Economic Institute for Empirical Analysis, Kozminski University, IESEG School of Management and VU University AmsterdamVrije Universiteit Amsterdam, School of Business and Economics
Downloads 597 (79,019)
Citation 20

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Foreign Banks, Credit Supply, Market Discipline

34.

The Financial System Capacities of India and China

Number of pages: 48 Posted: 18 Mar 2009
Franklin Allen, Rajesh Chakrabarti, Sankar De, Jun "QJ" Qian and Meijun Qian
Imperial College London, O. P. Jindal Global University, Independent, Fanhai International School of Finance, Fudan University and Zhejiang University International Business School
Downloads 597 (79,186)
Citation 5

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China, India, financial system capacity, banks, markets, alternative finance

35.

Credit Market Competition and Capital Regulation

Robert H. Smith School Research Paper No. RHS 06-37, Wharton Financial Institutions Center Working Paper No. 05-27, CFS Working Paper No. 2005/23, FEDS Working Paper No. 2006-11, EFA 2006 Zurich Meetings
Number of pages: 62 Posted: 09 Oct 2005 Last Revised: 26 Jan 2014
Franklin Allen, Elena Carletti and Robert Marquez
Imperial College London, Bocconi University - Department of Finance and University of California, Davis
Downloads 593 (79,649)
Citation 63

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36.

Financial Connections and Systemic Risk

Downloads 552 (87,115)
Citation 7

Financial Connections and Systemic Risk

European Banking Center Discussion Paper No. 2010-23S, CentER Discussion Paper Series No. 2010-88S
Number of pages: 43 Posted: 28 Aug 2010
Franklin Allen, Ana Babus and Elena Carletti
Imperial College London, Washington University in St. Louis - Department of Economics and Bocconi University - Department of Finance
Downloads 452 (109,927)
Citation 3

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Financial networks, diversification, short term finance, rollover risk

Financial Connections and Systemic Risk

NBER Working Paper No. w16177
Number of pages: 43 Posted: 12 Jul 2010 Last Revised: 16 Mar 2023
Franklin Allen, Ana Babus and Elena Carletti
Imperial College London, Washington University in St. Louis - Department of Economics and Bocconi University - Department of Finance
Downloads 100 (454,502)
Citation 5

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Financial Connections and Systemic Risk

Posted: 04 Nov 2009
Franklin Allen, Ana Babus and Elena Carletti
Imperial College London, Washington University in St. Louis - Department of Economics and Bocconi University - Department of Finance

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37.

Comparing Legal and Alternative Institutions in Finance and Commerce

Wharton Financial Institutions Center Working Paper No. 08-26
Number of pages: 40 Posted: 31 Mar 2009 Last Revised: 04 Dec 2011
Franklin Allen and Jun "QJ" Qian
Imperial College London and Fanhai International School of Finance, Fudan University
Downloads 529 (91,918)
Citation 6

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Dispute resolution, institutions, law, legislature, competition

38.

Financial Structure, Economic Growth and Development

Downloads 513 (95,423)

Financial Structure, Economic Growth and Development

IÉSEG Working Paper Series 2017-ACF-04
Number of pages: 70 Posted: 13 Sep 2017
Franklin Allen, Xian Gu and Oskar Kowalewski
Imperial College London, Durham University Business School and IESEG School of Management
Downloads 513 (94,412)

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Banks, Markets, Shadow banking, Economic Growth

Financial Structure, Economic Growth and Development

CEPR Discussion Paper No. DP12859
Number of pages: 58 Posted: 16 Apr 2018
Franklin Allen, Xian Gu and Oskar Kowalewski
Imperial College London, Durham University Business School and IESEG School of Management
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banks, Economic Growth, markets, shadow banking

39.

The Financial System Capacities in China and India

Number of pages: 96 Posted: 24 Oct 2008 Last Revised: 14 Mar 2012
Franklin Allen, Rajesh Chakrabarti, Sankar De, Jun "QJ" Qian and Meijun Qian
Imperial College London, O. P. Jindal Global University, Independent, Fanhai International School of Finance, Fudan University and Zhejiang University International Business School
Downloads 512 (95,658)
Citation 4

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India, law and finance, institutions, growth, banks, markets, SME sector

40.

A Review of China’s Institutions

Number of pages: 33 Posted: 10 Nov 2018 Last Revised: 09 Oct 2020
Franklin Allen, Jun "QJ" Qian and Meijun Qian
Imperial College London, Fanhai International School of Finance, Fudan University and Zhejiang University International Business School
Downloads 511 (96,365)
Citation 1

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Institutions, Government, Property Rights, Markets, Alternative Finance, Innovation

41.

Credit Risk Transfer and Contagion

CFS Working Paper No. 2005/25
Number of pages: 34 Posted: 24 Oct 2005
Franklin Allen and Elena Carletti
Imperial College London and Bocconi University - Department of Finance
Downloads 505 (97,266)
Citation 37

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Financial innovation, Pareto inferior, banking, insurance

42.

Fintech, Cryptocurrencies, and CBDC: Financial Structural Transformation in China

Downloads 503 (97,754)
Citation 15

Fintech, Cryptocurrencies, and CBDC: Financial Structural Transformation in China

Journal of International Money and Finance (2022)
Number of pages: 38 Posted: 30 Jan 2022 Last Revised: 31 Mar 2022
Franklin Allen, Xian Gu and Julapa Jagtiani
Imperial College London, Durham University Business School and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 502 (96,941)

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Fintech, Cryptocurrency Regulations, Stablecoins, CBDCs, e-CNY, China

FinTech, Cryptocurrencies, and CBDC: Financial Structural Transformation in China

CEPR Discussion Paper No. DP16977
Number of pages: 41 Posted: 04 Feb 2022
Franklin Allen, Xian Gu and Julapa Jagtiani
Imperial College London, Durham University Business School and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
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CBDCs, China, Cryptocurrency Regulations, e-CNY, Fintech, stablecoins

43.

How Important Historically Were Financial Systems for Growth in the U.K., U.S., Germany, and Japan?

Number of pages: 55 Posted: 02 Nov 2010
Franklin Allen, Forrest Capie, Caroline Fohlin, Hideaki Miyajima, Richard Sylla, Yishay Yafeh and Geoffrey Wood
Imperial College London, Bank of England, Emory University, Waseda University - Graduate School of Commerce, New York University - Stern School of Business, Department of Economics, Hebrew University of Jerusalem - Jerusalem School of Business Administration and Cass Business School
Downloads 490 (100,919)
Citation 12

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44.

The Capital Markets Union: Key Challenges

Downloads 480 (103,473)
Citation 2

The Capital Markets Union: Key Challenges

Number of pages: 26 Posted: 04 Mar 2018
Franklin Allen and Lubos Pastor
Imperial College London and University of Chicago - Booth School of Business
Downloads 479 (102,628)

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Capital Markets Union

The Capital Markets Union: Key Challenges

CEPR Discussion Paper No. DP12761
Number of pages: 29 Posted: 06 Mar 2018
Franklin Allen and Lubos Pastor
Imperial College London and University of Chicago - Booth School of Business
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Citation 2
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Capital Markets Union

45.

The Value of Bank Capital and the Structure of the Banking Industry

Review of Financial Studies, Vol. 24, No. 4, April 2011
Number of pages: 20 Posted: 16 Feb 2011
Paolo Fulghieri, Franklin Allen and Hamid Mehran
University of North Carolina Kenan-Flagler Business School, Imperial College London and Independent
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Value Bank Capital, Financial Intermediaries

46.

Financial System: Shock Absorber or Amplifier?

BIS Working Paper No. 257
Number of pages: 26 Posted: 22 Jul 2008
Franklin Allen and Elena Carletti
Imperial College London and Bocconi University - Department of Finance
Downloads 467 (106,866)
Citation 6

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Bank regulation, financial crisis, financial intermediation, market failure

47.

Crises and the Interbank Market Puzzle

Downloads 456 (109,964)
Citation 4

Crises and the Interbank Market Puzzle

Number of pages: 82 Posted: 12 Feb 2018 Last Revised: 23 Aug 2023
Franklin Allen, Giovanni Covi, Xian Gu, Oskar Kowalewski and Mattia Montagna
Imperial College London, Bank of England, Durham University Business School, IESEG School of Management and European Central Bank (ECB)
Downloads 270 (194,008)
Citation 1

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Interbank Market, Trust, Networks, Centrality, Community Detection

The Interbank Market Puzzle

Number of pages: 72 Posted: 20 Feb 2020
Franklin Allen, Giovanni Covi, Xian Gu, Oskar Kowalewski and Mattia Montagna
Imperial College London, Bank of England, Durham University Business School, IESEG School of Management and European Central Bank (ECB)
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centrality, community detection, interbank market, networks, trust

The Interbank Market Puzzle

Bank of England Working Paper No. 862
Number of pages: 70 Posted: 18 May 2020
Franklin Allen, Giovanni Covi, Xian Gu, Oskar Kowalewski and Mattia Montagna
Imperial College London, Bank of England, Durham University Business School, IESEG School of Management and European Central Bank (ECB)
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Interbank market, trust, networks, centrality, community detection

Trust and the Interbank Market Puzzle

CEPR Discussion Paper No. DP17263
Number of pages: 74 Posted: 27 May 2022
Franklin Allen, Giovanni Covi, Xian Gu, Oskar Kowalewski and Mattia Montagna
Imperial College London, Bank of England, Durham University Business School, IESEG School of Management and European Central Bank (ECB)
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Centrality, Community detection, interbank market, networks, Trust

48.

Corporate Governance and Intra-Group Transactions in European Bank Holding Companies During the Crisis

Wharton Financial Institutions Center Working Paper No. 11-35
Number of pages: 74 Posted: 03 Apr 2011 Last Revised: 04 Dec 2011
Franklin Allen, Xian Gu and Oskar Kowalewski
Imperial College London, Durham University Business School and IESEG School of Management
Downloads 451 (111,352)
Citation 8

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multinational banks, corporate governance, internal bank markets, crisis

49.

Implicit Guarantees and the Rise of Shadow Banking: The Case of Trust Products

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 81 Posted: 20 Sep 2021 Last Revised: 27 Apr 2023
Franklin Allen, Xian Gu, C. Wei Li, Jun "QJ" Qian and Yiming Qian
Imperial College London, Durham University Business School, University of Iowa, Fanhai International School of Finance, Fudan University and University of Connecticut - Department of Finance
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Shadow banking, trust products, implicit guarantee, yield, real estate, SOE

50.

Banks, Markets and Liquidity

Wharton Financial Institutions Center Working Paper No. 07-24
Number of pages: 32 Posted: 17 Oct 2007
Franklin Allen and Elena Carletti
Imperial College London and Bocconi University - Department of Finance
Downloads 398 (128,843)
Citation 1

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51.

Financial Fragility, Liquidity and Asset Prices

NYU Working Paper No. S-FI-03-07
Number of pages: 32 Posted: 11 Nov 2008
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics
Downloads 396 (129,580)
Citation 11

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financial crisis, financial fragility, liquidity, sunspots

52.

Financial Intermediaries and Markets

NYU Working Paper No. S-FI-03-16
Number of pages: 39 Posted: 11 Nov 2008
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics
Downloads 386 (133,402)
Citation 23

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53.

Financial Intermediation, Markets, and Alternative Financial Sectors

Number of pages: 55 Posted: 26 Mar 2012
Franklin Allen, Jun "QJ" Qian, Elena Carletti and Patricio Valenzuela
Imperial College London, Fanhai International School of Finance, Fudan University, Bocconi University - Department of Finance and Universidad de los Andes, Chile
Downloads 377 (136,893)
Citation 20

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alternative finance, markets, banks, trade credits, governance, growth

54.

The Effects of Foreign and Government Ownership on Bank Lending Behavior During a Crisis in Central and Eastern Europe

Wharton Financial Institutions Center Working Paper No. 13-25
Number of pages: 36 Posted: 30 Jun 2013
Franklin Allen, Krzysztof Jackowicz and Oskar Kowalewski
Imperial College London, Kozminski University and IESEG School of Management
Downloads 372 (138,975)
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foreign banks, government-owned banks, credit growth, crisis, emerging market

55.

Stock Price Manipulation, Market Microstructure and Asymmetric Information

NBER Working Paper No. w3862
Number of pages: 13 Posted: 04 Jul 2004 Last Revised: 23 Jul 2022
Franklin Allen and Gary B. Gorton
Imperial College London and Yale School of Management
Downloads 367 (141,025)
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56.

Enhancing Prudential Standards in Financial Regulations

FRB of Philadelphia Working Paper No. 14-36
Number of pages: 26 Posted: 23 Dec 2014 Last Revised: 25 Dec 2014
Franklin Allen, Itay Goldstein, Julapa Jagtiani and William W. Lang
Imperial College London, University of Pennsylvania - The Wharton School - Finance Department, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Promontory Financial Group
Downloads 338 (154,172)
Citation 6

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Financial Stability, Financial Regulations, Systemic Risk, Too Big To Fail, Stress Testing, Resolution Plan, Mortgage Finance

57.

African Financial Systems: A Review

Number of pages: 69 Posted: 17 Mar 2010 Last Revised: 13 Sep 2013
Franklin Allen, Isaac K. Otchere and Lemma W. Senbet
Imperial College London, Carleton University - Sprott School of Business and University of Maryland - Robert H. Smith School of Business
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Citation 10

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58.

Trends in Financial Innovation and Their Welfare Impact: An Overview

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Citation 8

Trends in Financial Innovation and Their Welfare Impact: An Overview

Number of pages: 37 Posted: 14 Nov 2011
Franklin Allen
Imperial College London
Downloads 221 (236,450)
Citation 5

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Trends in Financial Innovation and Their Welfare Impact: An Overview

De Nederlandsche Bank Working Paper No. 355
Number of pages: 43 Posted: 07 Nov 2012
Franklin Allen
Imperial College London
Downloads 108 (429,914)
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59.

Centralization or Decentralization? The Evolution of State-Ownership in China

Number of pages: 69 Posted: 05 Dec 2022
Franklin Allen, Junhui Cai, Xian Gu, Jun "QJ" Qian, Linda Zhao and Wu Zhu
Imperial College London, University of Notre Dame - Mendoza College of Business, Durham University Business School, Fanhai International School of Finance, Fudan University, University of Pennsylvania - Statistics Department and School of Economics and Management, Tsinghua University
Downloads 326 (163,524)

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state-owned enterprises; state capital; ownership network; hierarchical distance

60.

Reducing Carbon using Regulatory and Financial Market Tools

Number of pages: 51 Posted: 16 Feb 2023 Last Revised: 03 Jul 2023
Franklin Allen, Adelina Barbalau and Federica Zeni
Imperial College London, University of Alberta and World Bank
Downloads 302 (174,948)

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Carbon Emissions, Taxes, Voting, Sustainability-Linked Debt, Welfare

61.

The IPO of Industrial and Commercial Bank of China and the ‘Chinese Model’ of Privatizing Large Financial Institutions

European Journal of Finance, Forthcoming
Number of pages: 44 Posted: 27 Jan 2012
Franklin Allen, Jun "QJ" Qian, Mengxin Zhao, Mengxin Zhao and Chenyu Shan
Imperial College London, Fanhai International School of Finance, Fudan University, Securities and Exchange Commission (SEC)Independent and Shanghai University of Finance and Economics
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banks, IPO, privatization, non-performing loans, stock returns

62.

Deposits and Bank Capital Structure

Number of pages: 49 Posted: 23 Mar 2013 Last Revised: 24 May 2014
Franklin Allen, Elena Carletti and Robert Marquez
Imperial College London, Bocconi University - Department of Finance and University of California, Davis
Downloads 290 (181,323)
Citation 56

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Deposit finance, bankruptcy costs, regulation

63.

The Initial Public Offering of the Industrial and Commercial Bank of China (ICBC)

Number of pages: 39 Posted: 29 Nov 2011
Darien Huang, Franklin Allen, Jun "QJ" Qian, Mengxin Zhao and Mengxin Zhao
Cornell University - Department of Finance, Imperial College London, Fanhai International School of Finance, Fudan University and Securities and Exchange Commission (SEC)Independent
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banks, IPO, non-performing loans, markets, ICBC

64.

Financial Architecture and Financial Stability

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Citation 2

Financial Architecture and Financial Stability

Annual Review of Financial Economics, Vol. 13, pp. 129-151, 2021
Posted: 09 Nov 2021
Franklin Allen and Ansgar Walther
Imperial College London and Imperial College London

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Financial Architecture and Financial Stability

Number of pages: 30 Posted: 04 May 2021 Last Revised: 27 May 2021
Franklin Allen and Ansgar Walther
Imperial College London and Imperial College London
Downloads 264 (198,488)

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Financial stability, financial crises, shadow banks, bank regulation, networks

Financial Architecture and Financial Stability

CEPR Discussion Paper No. DP16204
Number of pages: 33 Posted: 14 Jul 2021
Franklin Allen and Ansgar Walther
Imperial College London and Imperial College London
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65.

Financial Crisis, Structure and Reform

Wharton Financial Institutions Center Working Paper 11-37
Number of pages: 40 Posted: 04 Apr 2011
Franklin Allen, Xian Gu and Oskar Kowalewski
Imperial College London, Durham University Business School and IESEG School of Management
Downloads 262 (200,926)
Citation 12

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financial structure, financial crises, financial reform

66.

Implicit Benefits and Financing

Downloads 251 (210,501)
Citation 10

Implicit Benefits and Financing

Number of pages: 39 Posted: 24 May 2019 Last Revised: 03 May 2022
Franklin Allen, Meijun Qian and Jing Xie
Imperial College London, Zhejiang University International Business School and University of Macau, Faculty of Business Administration, Department of Finance and Business Economics
Downloads 222 (236,450)
Citation 6

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Implicit benefits, debt financing, banks, corporate insider debt, joint equity-debt ownership, social and business networks

Implicit Benefits and Financing

Number of pages: 39 Posted: 04 May 2022
Franklin Allen, Meijun Qian and Jing Xie
Imperial College London, Zhejiang University International Business School and University of Macau, Faculty of Business Administration, Department of Finance and Business Economics
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Implicit benefits, debt financing, banks, corporate insider debt, joint equity-debt 
ownership, social and business networks

Implicit Benefits and Financing

CEPR Discussion Paper No. DP17264
Number of pages: 42 Posted: 27 May 2022
Franklin Allen, Meijun Qian and Jing Xie
Imperial College London, Zhejiang University International Business School and University of Macau, Faculty of Business Administration, Department of Finance and Business Economics
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banks, corporate insider debt, Debt Financing, Implicit benefits, joint equity-debt ownership, social and business networks

67.

Security Design: A Review

Number of pages: 89 Posted: 31 Oct 2022 Last Revised: 22 Aug 2023
Franklin Allen and Adelina Barbalau
Imperial College London and University of Alberta
Downloads 250 (210,501)

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capital structure, corporate governance, securitization, banking, fintech, sustainability

68.

Fintech, Cryptocurrencies, and CDBC: Financial Structural Transformation in China

FRB of Philadelphia Working Paper No. 22-12
Number of pages: 31 Posted: 12 Apr 2022
Julapa Jagtiani, Franklin Allen and Xian Gu
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Imperial College London and Durham University Business School
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fintech, cryptocurrency regulations, stablecoins, CBDCs, e-CNY, China

69.

How Prevalent Are Short Squeezes? Evidence From the US and Europe

Swiss Finance Institute Research Paper No. 23-63
Number of pages: 34 Posted: 02 Aug 2023 Last Revised: 23 Aug 2023
Franklin Allen, Marlene Haas, Matteo Pirovano and Angel Tengulov
Imperial College London, Independent, Universita della Svizzera italiana (USI Lugano) and University of Kansas - School of Business
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Short squeeze, stock cornering, market misconduct, disclosure and securities regulation

70.

The African Financial Development and Financial Inclusion Gaps

World Bank Policy Research Working Paper No. 7019
Number of pages: 37 Posted: 20 Apr 2016
Franklin Allen, Elena Carletti, Robert Cull, Jun "QJ" Qian, Lemma W. Senbet and Patricio Valenzuela
Imperial College London, Bocconi University - Department of Finance, World Bank - Development Research Group (DECRG), Fanhai International School of Finance, Fudan University, University of Maryland - Robert H. Smith School of Business and Universidad de los Andes, Chile
Downloads 211 (247,537)
Citation 17

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Economic Theory & Research, Access to Finance, Emerging Markets, Debt Markets, E-Business

71.

In What Form Will the Eurozone Emerge from the Crisis?

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Citation 2

In What Form Will the Eurozone Emerge from the Crisis?

Number of pages: 37 Posted: 05 Sep 2012
Franklin Allen and Victor Ngai
Imperial College London and Independent
Downloads 157 (321,176)
Citation 2

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default, temporary exit, Argentina, growth

In What Form Will the Eurozone Emerge from the Crisis?

Journal of Applied Finance (Formerly Financial Practice and Education), Vol. 22, No. 2, 2012
Number of pages: 14 Posted: 12 Nov 2015
Franklin Allen and Victor Ngai
Imperial College London and Independent
Downloads 50 (673,029)

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In What Form Will the Eurozone Emerge from the Crisis?

Journal of Applied Finance, Fall/Winter 2012, Volume 22, No.2
Posted: 07 Sep 2012
Franklin Allen and Victor Ngai
Imperial College London and Independent

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Eurozone crisis, European Financial Stability Facility (EFSF), Single Currency

In What Form Will the Eurozone Emerge from the Crisis?

Journal of Applied Finance, Fall/Winter 2012, Volume 22, No. 2
Posted: 16 Jul 2013
Franklin Allen and Victor Ngai
Imperial College London and Independent

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Eurozone, Asuterity Policies, default, temporary exit, Argentina, growth

72.

Government Guarantees and Financial Stability

Downloads 196 (264,704)
Citation 48

Government Guarantees and Financial Stability

ECB Working Paper No. 2032
Number of pages: 53 Posted: 07 Mar 2017
Franklin Allen, Elena Carletti, Itay Goldstein and Agnese Leonello
Imperial College London, Bocconi University - Department of Finance, University of Pennsylvania - The Wharton School - Finance Department and European Central Bank, Financial Research Division
Downloads 195 (265,455)
Citation 33

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Panic Runs, Fundamental Runs, Government Guarantees, Bank Moral Hazard

Government Guarantees and Financial Stability

CEPR Discussion Paper No. DP10560
Number of pages: 48 Posted: 27 Apr 2015
Franklin Allen, Elena Carletti, Itay Goldstein and Agnese Leonello
Imperial College London, Bocconi University - Department of Finance, University of Pennsylvania - The Wharton School - Finance Department and European Central Bank, Financial Research Division
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bank moral hazard, fundamental runs, government guarantees, panic runs

73.

On Interest Rate Policy and Asset Bubbles

FRB of Chicago Working Paper No. WP-2017-16
Number of pages: 52 Posted: 19 Sep 2017 Last Revised: 29 Apr 2020
Franklin Allen, Gadi Barlevy and Douglas M. Gale
Imperial College London, Federal Reserve Bank of Chicago and New York University (NYU) - Department of Economics
Downloads 190 (272,242)
Citation 1

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Interest rate, monetary policy, asset bubble

74.

Shadow Banking in China Compared to Other Countries

Number of pages: 24 Posted: 01 Jun 2020 Last Revised: 08 Jun 2020
Franklin Allen and Xian Gu
Imperial College London and Durham University Business School
Downloads 185 (278,621)
Citation 1

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Shadow Banking, Credit Constraint, Implicit Guarantee, Regulation, Financial Stability

75.

A Theory of Reverse Asset Substitution

Number of pages: 41 Posted: 20 Nov 2011 Last Revised: 01 Dec 2012
Franklin Allen and Indraneel Chakraborty
Imperial College London and University of Miami - Department of Finance
Downloads 182 (282,728)
Citation 1

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Reverse Asset Substitution, Banking

76.

Bank Lending, Crises and Changing Ownership Structure in Central and Eastern European Countries

INE PAN Working Paper
Number of pages: 49 Posted: 14 Feb 2015
Franklin Allen, Krzysztof Jackowicz, Oskar Kowalewski and Łukasz Kozłowski
Imperial College London, Kozminski University, IESEG School of Management and Kozminski University
Downloads 165 (307,708)
Citation 5

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foreign banks, domestic banks, credit growth, crisis, emerging markets

77.

Resolving the African Financial Development Gap: Cross-Country Comparisons and a Within-Country Study of Kenya

Downloads 163 (310,916)
Citation 8

Resolving the African Financial Development Gap: Cross-Country Comparisons and a Within-Country Study of Kenya

NBER VOLUME ON AFRICAN ECONOMIC SUCCESSES, S. Edwards, S. Johnson, and D. Weil, eds., University of Chicago Press, 2012
Number of pages: 60 Posted: 17 Apr 2012
Franklin Allen, Elena Carletti, Robert Cull, Jun "QJ" Qian, Lemma W. Senbet and Patricio Valenzuela
Imperial College London, Bocconi University - Department of Finance, World Bank - Development Research Group (DECRG), Fanhai International School of Finance, Fudan University, University of Maryland - Robert H. Smith School of Business and Universidad de los Andes, Chile
Downloads 71 (562,899)

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Africa, Kenya, finance and growth, population density, Equity Bank, financial access

Resolving the African Financial Development Gap: Cross-Country Comparisons and a Within-Country Study of Kenya

World Bank Policy Research Working Paper No. 6592
Number of pages: 62 Posted: 20 Apr 2016
Franklin Allen, Elena Carletti, Robert Cull, Lemma W. Senbet and Patricio Valenzuela
Imperial College London, Bocconi University - Department of Finance, World Bank - Development Research Group (DECRG), University of Maryland - Robert H. Smith School of Business and Universidad de los Andes, Chile
Downloads 59 (621,471)

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Access to Finance, Banks & Banking Reform, Debt Markets, Emerging Markets, Economic Theory & Research

Resolving the African Financial Development Gap: Cross-Country Comparisons and a Within-Country Study of Kenya

NBER Working Paper No. w18013
Number of pages: 61 Posted: 28 Apr 2012 Last Revised: 22 Mar 2023
Franklin Allen, Elena Carletti, Robert Cull, Jun "QJ" Qian, Lemma W. Senbet and Patricio Valenzuela
Imperial College London, Bocconi University - Department of Finance, World Bank - Development Research Group (DECRG), Fanhai International School of Finance, Fudan University, University of Maryland - Robert H. Smith School of Business and Universidad de los Andes, Chile
Downloads 33 (793,948)
Citation 7

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78.

Money, Financial Stability and Efficiency

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Citation 33

Money, Financial Stability and Efficiency

Number of pages: 44 Posted: 18 Jan 2011
Franklin Allen, Elena Carletti and Douglas M. Gale
Imperial College London, Bocconi University - Department of Finance and New York University (NYU) - Department of Economics
Downloads 154 (326,492)
Citation 3

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Money, Financial Stability and Efficiency

CEPR Discussion Paper No. DP8553
Number of pages: 47 Posted: 16 Sep 2011
Franklin Allen, Elena Carletti and Douglas M. Gale
Imperial College London, Bocconi University - Department of Finance and New York University (NYU) - Department of Economics
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monetary policy, nominal contracts

79.

Asset Commonality, Debt Maturity and Systemic Risk

Downloads 157 (320,971)
Citation 150

Asset Commonality, Debt Maturity and Systemic Risk

Number of pages: 50 Posted: 05 Nov 2011
Franklin Allen, Ana Babus and Elena Carletti
Imperial College London, Washington University in St. Louis - Department of Economics and Bocconi University - Department of Finance
Downloads 153 (328,266)
Citation 9

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Contagion, clustered and unclustered networks, interim information

Asset Commonality, Debt Maturity and Systemic Risk

CEPR Discussion Paper No. DP8476
Number of pages: 54 Posted: 20 Jul 2011
Franklin Allen, Ana Babus and Elena Carletti
Imperial College London, Washington University in St. Louis - Department of Economics and Bocconi University - Department of Finance
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Citation 61
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interim information, rollover risk., Short-term debt

80.

The Interplay between Regulations and Financial Stability

Downloads 154 (326,195)
Citation 6

The Interplay between Regulations and Financial Stability

Number of pages: 33 Posted: 19 Mar 2018
Franklin Allen and Xian Gu
Imperial College London and Durham University Business School
Downloads 154 (326,492)
Citation 6

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financial crises, asset price bubbles, contagion, macroprudential

The Interplay between Regulations and Financial Stability

CEPR Discussion Paper No. DP12862
Number of pages: 36 Posted: 16 Apr 2018
Franklin Allen and Xian Gu
Imperial College London and Durham University Business School
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Asset price bubbles, contagion, Financial crises, macroprudential

81.

Why are There Global Imbalances? The Case of South Korea

Number of pages: 29 Posted: 03 Mar 2011
Franklin Allen and Joo Yun Hong
Imperial College London and University of Pennsylvania
Downloads 137 (360,261)
Citation 1

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82.

Rational Finite Bubbles

NBER Working Paper No. w3707
Number of pages: 42 Posted: 14 Jul 2000 Last Revised: 20 Aug 2022
Franklin Allen and Gary B. Gorton
Imperial College London and Yale School of Management
Downloads 133 (366,463)

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83.

International Evidence on Firm Level Decisions in Response to the Crisis: Shareholders vs. Other Stakeholders

Downloads 121 (393,586)
Citation 1

International Evidence on Firm Level Decisions in Response to the Crisis: Shareholders vs. Other Stakeholders

Journal of Japanese and International Economies, Vol. 47, No. 1, 2018, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 545/2018
Number of pages: 44 Posted: 06 Jan 2018 Last Revised: 01 Apr 2018
Franklin Allen, Elena Carletti, Yaniv Grinstein and Yaniv Grinstein
Imperial College London, Bocconi University and Reichman University - Interdisciplinary Center (IDC) HerzliyahCornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 121 (395,220)
Citation 1

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Okun’s Law, Corporate Governance, Firm-Level Decisions

International Evidence on Firm Level Decisions in Response to the Crisis: Shareholders vs. Other Stakeholders

CEPR Discussion Paper No. DP12568
Number of pages: 41 Posted: 08 Jan 2018
Franklin Allen, Elena Carletti, Yaniv Grinstein and Yaniv Grinstein
Imperial College London, Bocconi University and Reichman University - Interdisciplinary Center (IDC) HerzliyahCornell University - Samuel Curtis Johnson Graduate School of Management
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corporate governance, firm-level decisions, Okun's law

84.

The Efficiency and Stability of Banks and Markets

National Bank of Belgium Working Paper No. 52
Number of pages: 31 Posted: 14 Oct 2010
Franklin Allen
Imperial College London
Downloads 111 (419,090)
Citation 6

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85.

Brealey, Myers, and Allen on Real Options

Journal of Applied Corporate Finance, Vol. 20, Issue 4, pp. 58-71, Fall 2008
Number of pages: 16 Posted: 01 Mar 2023
Richard A. Brealey, Stewart C. Myers and Franklin Allen
London Business School, Massachusetts Institute of Technology (MIT) and Imperial College London
Downloads 108 (427,494)

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86.

Understanding Informal Financing

Downloads 99 (454,320)
Citation 27

Understanding Informal Financing

Journal of Financial Intermediation, July 2019, Vol.39, pp. 19-33.
Number of pages: 50 Posted: 06 May 2019 Last Revised: 09 Sep 2021
Franklin Allen, Meijun Qian and Jing Xie
Imperial College London, Zhejiang University International Business School and University of Macau, Faculty of Business Administration, Department of Finance and Business Economics
Downloads 99 (457,553)
Citation 33

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informal financing, asymmetric information, social collateral, firm growth

Understanding Informal Financing

CEPR Discussion Paper No. DP12863
Number of pages: 53 Posted: 16 Apr 2018
Franklin Allen, Meijun Qian and Jing Xie
Imperial College London, Zhejiang University International Business School and University of Macau, Faculty of Business Administration, Department of Finance and Business Economics
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asymmetric information, Firm Growth, Informal financing, social collateral

87.

Initial Coin Offerings, Corporate Finance and Financial Regulation

F. Allen 2020, "Initial Coin Offerings, Corporate Finance and Financial Regulation," Digital Currency Economics and Policy Workshop E-book, ABFER.
Number of pages: 18 Posted: 14 Sep 2020
Franklin Allen
Imperial College London
Downloads 93 (473,291)

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capital raising, cryptocurrencies, financial structure

88.

Theories, Practices, and Prospects of Alternative Finance

Forthcoming in the Research Handbook of Alternative Finance
Number of pages: 41 Posted: 27 Jul 2023
Franklin Allen and Meijun Qian
Imperial College London and Zhejiang University International Business School
Downloads 91 (483,125)

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Alternative Finance, Trade credits, Social Network, Business Groups, Online Finance

89.

Brealey, Myers, and Allen on Capital Budgeting, Capital Structure, and Agency Issues

Journal of Applied Corporate Finance, Vol. 20, Issue 4, pp. 49-57, Fall 2008
Number of pages: 11 Posted: 01 Mar 2023
Richard A. Brealey, Stewart C. Myers and Franklin Allen
London Business School, Massachusetts Institute of Technology (MIT) and Imperial College London
Downloads 90 (489,891)
Citation 1

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90.

Illiquidity and All Its Friends. A Discussion by Franklin Allen

Review of Environment, Energy and Economics (Re3), November 2014
Number of pages: 11 Posted: 22 Nov 2014
Franklin Allen
Imperial College London
Downloads 86 (496,920)

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Liquidity, Bailouts, Regulation

91.

Alternative Finance in the International Business Context, A Review and Future Research

Number of pages: 43 Posted: 25 Jun 2023
Franklin Allen and Meijun Qian
Imperial College London and Zhejiang University International Business School
Downloads 72 (555,485)

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Alternative Finance, International Business, Institution, Comparative Financial System, MNC, Cross-Border, International Strategies, Fintech

92.

The Interplay Among Financial Regulations, Resilience, and Growth

FRB of Philadelphia Working Paper No. 18-9
Number of pages: 30 Posted: 22 Feb 2018 Last Revised: 18 Jun 2022
Franklin Allen, Itay Goldstein and Julapa Jagtiani
Imperial College London, University of Pennsylvania - The Wharton School - Finance Department and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 72 (551,239)

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financial reforms, capital regulations, liquidity regulations, too big to fail, living wills, Dodd–Frank Wall Street Reform and Consumer Protection Act, financial stability, interconnectedness

93.

International Comparison of Alternative Finance

Forthcoming in the Research Handbook of Alternative Finance
Number of pages: 27 Posted: 27 Jul 2023
Franklin Allen, Elena Carletti, Meijun Qian and Patricio Valenzuela
Imperial College London, Bocconi University - Department of Finance, Zhejiang University International Business School and Universidad de los Andes, Chile
Downloads 67 (577,446)

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alternative finance, trade credits, Law, institutions, growth.

94.

The Competitiveness of Alternative Finance

Number of pages: 26 Posted: 27 Jul 2023
Franklin Allen and Meijun Qian
Imperial College London and Zhejiang University International Business School
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Alternative finance; comparative financial systems, informational and incentive advantages, trade credit, family lending, P2P lending,

95.

A Comment on Monetary Policy and Rational Asset Price Bubbles

FRB of Chicago Working Paper No. 2023-25
Number of pages: 33 Posted: 28 Jul 2023
Franklin Allen, Gadi Barlevy and Douglas M. Gale
Imperial College London, Federal Reserve Bank of Chicago and New York University (NYU) - Department of Economics
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bubbles, monetary policy, interest rate rules, lean versus clean

96.

A Review of China's Institutions

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A Review of China's Institutions

CEPR Discussion Paper No. DP13269
Number of pages: 36 Posted: 22 Oct 2018
Franklin Allen, Jun "QJ" Qian and Meijun Qian
Imperial College London, Fanhai International School of Finance, Fudan University and Zhejiang University International Business School
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alternative finance, government, Innovation, institutions, markets, Property rights

A Review of China's Institutions

Annual Review of Financial Economics, Vol. 11, pp. 39-64, 2019
Posted: 12 Jan 2020
Franklin Allen, Jun "QJ" Qian and Meijun Qian
Imperial College London, Fanhai International School of Finance, Fudan University and Zhejiang University International Business School

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97.

Was the ICO Boom Just a Sideshow of the Bitcoin and Ether Momentum?

CEPR Discussion Paper No. DP16908
Number of pages: 19 Posted: 04 Feb 2022
Franklin Allen, Antonio Fatás and Beatrice Weder di Mauro
Imperial College London, INSEAD and University of Geneva - Graduate Institute, Geneva (IHEID)
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98.

The Interplay between Financial Regulations, Resilience, and Growth

CEPR Discussion Paper No. DP12861
Number of pages: 38 Posted: 16 Apr 2018
Franklin Allen, Itay Goldstein and Julapa Jagtiani
Imperial College London, University of Pennsylvania - The Wharton School - Finance Department and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
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bank capital regulations, bank liquidity, Basel III, CET1, Doddâ?“Frank Act, Financial Stability, high-quality liquid assets (HQLAs)

99.

An Overview of China's Financial System

Annual Review of Financial Economics, Vol. 9, pp. 191-231, 2017
Posted: 03 Jan 2018
Franklin Allen, Jun "QJ" Qian and Xian Gu
Imperial College London, Fanhai International School of Finance, Fudan University and Durham University Business School

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100.

The IPO of Industrial and Commercial Bank of China and the 'Chinese Model' of Privatizing Large Financial Institutions

The European Journal of Finance, iFirst, pp. 1-26, 2012, University of Alberta School of Business Research Paper No. 2013-1210
Posted: 16 Aug 2013
Franklin Allen, Mengxin Zhao, Mengxin Zhao, Chenyu Shan and Jun "QJ" Qian
Imperial College London, Securities and Exchange Commission (SEC)Independent, Shanghai University of Finance and Economics and Fanhai International School of Finance, Fudan University

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banks, IPO, privatization, non-performing loans, stock returns

101.

Signaling by Underpricing in the IPO Market

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 17 Nov 2009
Franklin Allen and Gerald R. Faulhaber
Imperial College London and University of Pennsylvania - Wharton School

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Signaling, Initial public offerings (IPO), Underpricing, Investors, Firm performance, Equilibrium

102.

Corporate Governance in Emerging Economies

Oxford Review of Economic Policy, Vol. 21, Issue 2, pp. 164-177, 2005
Posted: 29 Feb 2008
Franklin Allen
Imperial College London

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103.

Beauty Contests and Iterated Expectations in Asset Markets

The Review of Financial Studies, Vol. 19, Issue 3, pp. 719-752, 2006
Posted: 29 Feb 2008
Franklin Allen and Hyun Song Shin
Imperial College London and Bank for International Settlements (BIS)

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104.

A Comparative Theory of Corporate Governance

Wharton Financial Institutions Center Working Paper No. 03-27
Posted: 12 Oct 2003
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics

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105.

Capital Adequacy Regulation: In Search of a Rationale

WFIC Working Paper No. 03-07
Posted: 18 Jun 2003
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics

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106.

Venture Capital and Corporate Governance

WFIC Working Paper No. 03-05
Posted: 08 Jun 2003
Franklin Allen and Wei-Ling Song
Imperial College London and Louisiana State University

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107.

Asset Price Bubbles and Stock Market Interlinkages

WFIC Working Paper No. 02-22
Posted: 03 Sep 2002
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics

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108.

E-Finance: An Introduction

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E-Finance: An Introduction

Wharton Financial Inst. Ctr. Working Paper No. 01-36
Posted: 26 May 2002
Franklin Allen, Philip E. Strahan and James McAndrews
Imperial College London, Boston College - Department of Finance and Wharton Financial Institutions Center

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E-Finance: An Introduction

Posted: 08 Mar 2003
Franklin Allen, Philip E. Strahan and James McAndrews
Imperial College London, Boston College - Department of Finance and Wharton Financial Institutions Center

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E-finance, internet, research

109.

Banking and Markets

Posted: 22 Jan 2002
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics

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110.

Competition Among Banks: Introduction and Conference Overview

Posted: 06 Jan 2002
Franklin Allen, Hans Gersbach, Jan Pieter Krahnen and Anthony M. Santomero
Imperial College London, ETH Zurich - CER-ETH -Center of Economic Research, Goethe University Frankfurt and University of Pennsylvania - The Wharton School

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111.

Do Financial Institutions Matter?

Wharton Financial Institutions Center Working Paper No. 01-04
Posted: 26 Apr 2001
Franklin Allen
Imperial College London

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112.

Financial Contagion

Posted: 04 Jan 2000
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics

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113.

Finite Bubbles with Short Sale Constraints and Asymmetric Information

Posted: 01 Sep 1999
Franklin Allen, Stephen Morris and Andrew Postlewaite
Imperial College London, MIT and University of Pennsylvania - Department of Economics

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114.

Dividend Policy

Rodney L White Center for Financial Research, 14-94
Posted: 26 Aug 1999
Franklin Allen and Roni Michaely
Imperial College London and The University of Hong Kong

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115.

Corporate Financial Structure, Incentives and Optimal Contracting

Rodney L White Center for Financial Research 15-94
Posted: 06 Aug 1999
Franklin Allen and Andrew Winton
Imperial College London and University of Minnesota - Twin Cities - Carlson School of Management

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116.

Diversity of Opinion and Financing of New Technologies

Posted: 03 Apr 1999
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics

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117.

A Welfare Comparison of the German and U.S. Financial Systems

Rodney L White Center for Financial Research Working Paper 13-94
Posted: 06 Jan 1999
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics

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118.

Using Genetic Algorithms to Find Technical Trading Rules

Rodney L. White Center for Financial Research Working Paper #20-95
Posted: 14 Jul 1998
Franklin Allen and Risto Karjalainen
Imperial College London and University of Colorado at Boulder

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119.

Financial Pricing of Insurance in Multiple Line Insurance Companies

96-09
Posted: 25 Jun 1998
Richard D. Phillips, J David Cummins and Franklin Allen
Georgia State University - Risk Management & Insurance Department, Temple University - Risk Management & Insurance & Actuarial Science and Imperial College London

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120.

A Theory of Dividends Based on Tax Clienteles

Rodney L. White Center Working Paper No. 15-98
Posted: 25 Jun 1998
Franklin Allen, Antonio E. Bernardo and Ivo Welch
Imperial College London, University of California, Los Angeles (UCLA) - Finance Area and University of California, Los Angeles (UCLA)

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121.

Bubbles and Crises

98-01
Posted: 11 Feb 1998
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics

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122.

Optimal Financial Crises

97-01
Posted: 25 Feb 1997
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics

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123.

The Future of the Japanese Financial System

96-56
Posted: 03 Dec 1996
Franklin Allen
Imperial College London

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124.

The Theory of Financial Intermediation

96-32
Posted: 10 Sep 1996
Franklin Allen and Anthony M. Santomero
Imperial College London and University of Pennsylvania - The Wharton School

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125.

Financial Markets, Intermediaries, and Intertemporal Smoothing

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Financial Markets, Intermediaries, and Intertemporal Smoothing

JOURNAL OF POLITICAL ECONOMY, Vol 105 No 3, June 1997
Posted: 14 Jul 1997
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics

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Financial Markets, Intermediaries, and Intertemporal Smoothing

95-4
Posted: 05 Apr 1995
Franklin Allen and Douglas M. Gale
Imperial College London and New York University (NYU) - Department of Economics

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