The international financial system has witnessed a recent turmoil that has called the attention of not only bankers and researchers in the area, but also of the media and society in general. The liquidity restrictions and the increase in problem loans are challenging both the functioning of financial institutions and regulators.

Despite all these difficulties faced by the financial systems, they still have a key role in the functioning of modern economies. Basically, the task of intermediating between savers and investors is essential for the process of capital accumulation that promotes growth. This function has to be performed efficiently and competitively in order to reap all the benefits of extended investment.

In this sense, the main objective of the seminar is to analyze and discuss the role financial intermediaries have in the real economies, examining the importance of competition and stability, and their effects on growth.

More specifically, the seminar will be focused on:

• The importance of both financial development and banking competition to promote economic growth.
• The relation between financial constraints and investment.
• The importance of financial competition on stability and on corporate governance.

"Liberalisation of capital controls and interest rates restrictions in the EU-15: Did it affect economic growth?"
Diego Romero-Ávila, Universidad Pablo de Olavide

"Regional financial development and bank competition: effects on firms’ growth"
Juan Fernández de Guevara and Joaquín Maudos, Universitat de València and Ivie

"Bank lending, financial constraints and SME investment"
Santiago Carbó, Federal Reserve Bank of Chicago and Universidad de Granada (in collaboration with Francisco Rodríguez and Gregory F. Udell)

"How bank capital buffers vary across countries. The influence of cost of deposits, market power and bank regulation"
Francisco González, Universidad de Oviedo

"Multimarket contact and profitability in banking: evidence from Italy"
Paolo Coccorese, Università degli Studi di Salerno

"Liberalization, corporate governance and savings banks"
Manuel Illueca, Universitat Jaume I and Ivie (in collaboration with Lars Norden and Gregory F. Udell)

Universitat de València
Facultat d’Economia
Sala Ignasi Villalonga (first floor)
Avenida de los Naranjos, s/n.
46022 Valencia