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簡(jiǎn)介：9300英文單詞，英文單詞，53萬(wàn)英文字符，中文萬(wàn)英文字符，中文16萬(wàn)字萬(wàn)字文獻(xiàn)出處文獻(xiàn)出處SMITHITHELAWANDECONOMICSOFMARRIAGECONTRACTSJJOURNALOFECONOMICSURVEYS,2003,172201225THELAWANDECONOMICSOFMARRIAGECONTRACTSIANSMITHABSTRACTGROWTHINPROPERTYOWNERSHIPHASRAISEDTHESTAKESINTHEDISTRIBUTIONOFFINANCIALASSETSONDIVORCEGIVENHIGHRISKSOFMARITALFAILURE,THISHASSTIMULATEDTHEDEMANDFORPRIVATEORDERINGTHROUGHENFORCEABLEMARRIAGECONTRACTSTHISPAPERSURVEYSTHEEXISTINGLAWANDECONOMICSLITERATUREANDLEGALPRACTICETOCONSIDERTHESTATEOFKNOWLEDGEONTHEECONOMICTHEORY,SCOPEANDLIMITSOFWRITTENNUPTIALAGREEMENTSKEYWORDSMARRIAGECONTRACTSPRENUPTIALAGREEMENTSMARITALPROPERTY1INTRODUCTIONWHILETHEREISMUCHSCHOLARLYINVESTIGATIONOFTHEFINANCIALCONSEQUENCESOFMARITALBREAKDOWN,1DISCUSSIONOFTHEPRIVATEREGULATIONOFSUCHOUTCOMESUSINGMARRIAGECONTRACTSISLESSSYSTEMATICTHETOPICOFMARITALCONTRACTINGTOALTERTHEDIVORCEENTITLEMENTSOFTHEPARTIESRECEIVES,FOREXAMPLE,ONLYBRIEFCOMMENTSINTHESTANDARDSURVEYSOFTHEECONOMICSOFTHEFAMILYOFFEREDBYBECKER1991,BERGSTROM19961997,CABRILLO1999,CIGNO1991,ERMISCH1993,GROSSBARDSHECHTMAN1993,POLLAK1985ANDWEISS1997EMPIRICALLY,THEMOSTFREQUENTTYPEOFMARITALCONTRACTINCOMMONLAWJURISDICTIONSISTHEEXPOSTSEPARATIONAGREEMENTDRAFTEDFOLLOWINGMARRIAGEBREAKDOWNSUCHPOSTMARITALSEPARATIONAGREEMENTSARETYPICALLYPREFERREDTOAJUDICIALLYDETERMINEDDIVORCESETTLEMENTBOTHBYDIVORCINGCOUPLESFARMERANDTIEFENTHALER,2001ANDBYCOURTSWHICHRARELYSETASIDEPRIVATELYNEGOTIATEDSOLUTIONSLESSNUMEROUSAREEXANTESEPARATIONAGREEMENTS,COMPRISINGBOTHPRENUPTIALCONTRACTSWRITTENPRIORTOMARRIAGEANDTHOSENEGOTIATEDDURINGACONTINUINGMARRIAGEEXPOSTSEPARATIONAGREEMENTS,SIGNEDATDIVORCE,ARERELATIVELYUNCONTROVERSIALANDHAVELESSANALYTICALLYINTERESTINGCHARACTERISTICSTHANMARITALCONTRACTSNEGOTIATEDEITHERASACONDITIONOFTHEWEDDINGORDURINGANONGOINGMARRIAGETHEDIFFERENCEINTHEORETICALSIGNIFICANCEARISESBECAUSE,INTHECASEOFEXPOSTSEPARATIONAGREEMENTS,EXECUTIONANDENFORCEMENTAREALMOSTCONTEMPORANEOUSWHEREASMARITALCONTRACTSREQUIRECONTINGENTCONTRACTINGOVERAPOSSIBLYDISTANTANDUNCERTAINFUTUREEVENTTHECONSEQUENCEISTHATMARRIAGECONTRACTSINVOLVEISSUESOFRENEGOTIATIONANDSIGNALLING,ASWELLASTHEBARGAININGPROBLEMSTHATALSOARISEWITHPOSTMARITALSEPARATIONAGREEMENTSASCONTRACTINGONSEPARATIONISWELLANALYZEDBYMNOOKINANDKORNHAUSER1979ANDTREBILCOCKANDKEVSHANI1991ITWILLBELARGELYIGNOREDINWHATFOLLOWSCONTRIBUTIONSOUTLININGTHETHEORYANDPRACTICEOFNUPTIALAGREEMENTSDRAWFROMTHELITERATUREONLAWANDECONOMICSANDTHEECONOMICSOFCONTRACTS2MOSTOFTHEDISCUSSIONISRECENT,WITHONLYAFEWPUBLISHEDSTUDIESINENGLISHPRIORTOWEITZMAN1981ASTHEFIELDISRELATIVELYNEW,ANDTHEENFORCEABILITYOFEXANTEMARRIAGECONTRACTSCONTROVERSIALINSOMEJURISDICTIONS,MANYOFTHECONTRIBUTIONSTOTHETOPICHAVEADISTINCTLYNORMATIVEASWELLASANALYTICALFLAVOURWRITERSGENERALLYFAVOURABLETOMARITALCONTRACTSINCLUDEBECKERANDBECKER1997,BIX1998,DNES2000,GROSSBARDSHECHTMANANDLEMENNICIER1999,MARSTON1997,RASMUSENANDSTAKE1998,SCOTTANDSCOTT19981999,TREBILCOCK1999,TREBILCOCKANDKESHVANI1991,WAX1998,WEITZMAN1981ANDYOUNGER19881992SCEPTICSINCLUDEBRINIG2000,BROD1994,COHEN19872002,DIFONZO2000,FRANK1988,MCLELLAN1996,NASHERI1998,NEAVEOWNRELATIONSHIPTERMS,ISTHECOROLLARYOFITSINCREASINGCONCEPTUALIZATIONINTERMSOFRIGHTSTOPROPERTYBELL1997ARGUESFROMANANTHROPOLOGICALPERSPECTIVETHATMARRIAGETRADITIONALLYCONFERREDRIGHTSONAHUSBANDOFSEXUALACCESSTOHISWIFEHOWEVER,INNOVATIONSINFEMALECONTRACEPTIVETECHNOLOGYANDTHELEGALIZATIONOFABORTIONHAVEGIVENGREATERSEXUALANDREPRODUCTIVEAUTONOMYTOWOMENMARRIAGEISNOLONGERDEFINEDSOMUCHINTERMSOFSEXUALRIGHTSBUTRATHERINTERMSOFECONOMICRIGHTSANDCONSEQUENCESITISDISTINGUISHEDFROMNONMARITALCOHABITATIONBYITSIMPLICATIONSFORPROPERTYDIVISION,PENSION,HOUSING,FISCALANDINHERITANCEBENEFITS,ASWELLASBYGREATERENTRYANDEXITCOSTSTHISISTRUEEVENINCOUNTRIESSUCHASSWEDENWHICHSEEKNEUTRALTREATMENTOFDIFFERENTFAMILYFORMSSWEDISHLAWTYPICALLYTREATSNEARLYALLSPOUSALPROPERTYASMARITAL,TOBEPOOLEDANDDIVIDEDEQUALLYONDIVORCE,WHEREASTHATOFCOHABITANTSISTREATEDASSEPARATEPROPERTYBRADLEY,1996INSOFARASTHEINSTITUTIONOFMARRIAGEISCONCEIVEDPRIMARILYINTERMSOFFINANCIALEFFECTS,THISWILLNATURALLYLENDITSELFTOPRIVATECONTRACTINGMOREOVER,MANYLEGALCOMMENTATORSHAVENOTEDARETREATFROMTHEREGULATIONOFMARRIAGEINFAMILYLAW,CREATINGACLIMATEFAVOURABLETOMARITALCONTRACTINGINPARTICULAR,THEFOCUSISSHIFTINGFROMTHELEGALOBLIGATIONSOFPARTNERSTOTHOSEOFPARENTSCARBONE,2000THEMOVEFROMPARTNERSTOPARENTSISEVIDENTINTHEADVENTOFTHECLEANBREAKPHILOSOPHYTHATSEVERSSPOUSALFINANCIALRESPONSIBILITIESINTHEDIVORCESETTLEMENTBUTSTRICTLYENFORCESCONTINUINGCHILDSUPPORTPAYMENTSTHETRENDTOWARDSTHEPRIVATIZATIONOFMARRIAGEISALSOAPPARENTINTHEMODERNEMPHASISONNOFAULTDIVORCE,ANDALTERNATIVENONLITIGIOUSDISPUTERESOLUTIONPROCEDURES,SUCHASMEDIATION,TORESOLVEMARITALCONFLICTSOBSERVINGTHEINCREASINGSELFDETERMINATIONOFOBLIGATIONS,DIFONZO2000POSITSTHATDEVELOPEDCOUNTRIESAREEXPERIENCINGATRANSITIONTOVARIABLEORCUSTOMIZEDMARRIAGEHERALDEDBYLEPACSINFRANCEANDREGISTEREDPARTNERSHIPSINTHENETHERLANDS,SCANDINAVIAANDELSEWHEREMOREGENERALLY,MARRIAGECONTRACTSARECONSISTENTWITHCHANGESINPOLITICALCULTURETHATFAVOURINDIVIDUALAUTONOMYOVERSTATEIMPOSEDSOLUTIONSHOWEVER,THEUSEOFMARITALAGREEMENTSIS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簡(jiǎn)介：THELAWANDECONOMICSOFMARRIAGECONTRACTSIANSMITHUNIVERSITYOFSTANDREWSABSTRACTGROWTHINPROPERTYOWNERSHIPHASRAISEDTHESTAKESINTHEDISTRIBUTIONOFFINANCIALASSETSONDIVORCEGIVENHIGHRISKSOFMARITALFAILURE,THISHASSTIMULATEDTHEDEMANDFORPRIVATEORDERINGTHROUGHENFORCEABLEMARRIAGECONTRACTSTHISPAPERSURVEYSTHEEXISTINGLAWANDECONOMICSLITERATUREANDLEGALPRACTICETOCONSIDERTHESTATEOFKNOWLEDGEONTHEECONOMICTHEORY,SCOPEANDLIMITSOFWRITTENNUPTIALAGREEMENTSKEYWORDSMARRIAGECONTRACTSPRENUPTIALAGREEMENTSMARITALPROPERTY1INTRODUCTIONWHILETHEREISMUCHSCHOLARLYINVESTIGATIONOFTHEFINANCIALCONSEQUENCESOFMARITALBREAKDOWN,1DISCUSSIONOFTHEPRIVATEREGULATIONOFSUCHOUTCOMESUSINGMARRIAGECONTRACTSISLESSSYSTEMATICTHETOPICOFMARITALCONTRACTINGTOALTERTHEDIVORCEENTITLEMENTSOFTHEPARTIESRECEIVES,FOREXAMPLE,ONLYBRIEFCOMMENTSINTHESTANDARDSURVEYSOFTHEECONOMICSOFTHEFAMILYOFFEREDBYBECKER1991,BERGSTROM19961997,CABRILLO1999,CIGNO1991,ERMISCH1993,GROSSBARDSHECHTMAN1993,POLLAK1985ANDWEISS1997EMPIRICALLY,THEMOSTFREQUENTTYPEOFMARITALCONTRACTINCOMMONLAWJURISDICTIONSISTHEEXPOSTSEPARATIONAGREEMENTDRAFTEDFOLLOWINGMARRIAGEBREAKDOWNSUCHPOSTMARITALSEPARATIONAGREEMENTSARETYPICALLYPREFERREDTOAJUDICIALLYDETERMINEDDIVORCESETTLEMENTBOTHBYDIVORCINGCOUPLESFARMERANDTIEFENTHALER,2001ANDBYCOURTSWHICHRARELYSETASIDEPRIVATELYNEGOTIATEDSOLUTIONSLESSNUMEROUSAREEXANTESEPARATIONAGREEMENTS,COMPRISINGBOTHPRENUPTIALCONTRACTSWRITTENPRIORTOMARRIAGEANDTHOSENEGOTIATEDDURINGACONTINUINGMARRIAGEEXPOSTSEPARATIONAGREEMENTS,SIGNEDATDIVORCE,ARERELATIVELYUNCONTROVERSIALANDHAVELESSANALYTICALLYINTERESTINGCHARACTERISTICSTHANMARITALCONTRACTSNEGOTIATEDEITHERASACONDITIONOFTHEWEDDINGORDURINGANONGOINGMARRIAGETHEDIFFERENCEINTHEORETICALSIGNIFICANCEARISESBECAUSE,INTHECASEOFEXPOSTSEPARATIONAGREEMENTS,EXECUTIONANDENFORCEMENTAREALMOSTCONTEMPORANEOUSWHEREASMARITALCONTRACTSREQUIRECONTINGENTCONTRACTINGOVERAPOSSIBLYDISTANTANDUNCERTAINFUTUREEVENTTHECONSEQUENCEISTHATMARRIAGECONTRACTSINVOLVEISSUESOFRENEGOTIATIONANDSIGNALLING,ASWELLASTHEBARGAININGPROBLEMSTHATALSO09500804/03/020201–25JOURNALOFECONOMICSURVEYSVOL17,NO2BLACKWELLPUBLISHINGLTD2003,9600GARSINGTONROAD,OXFORDOX42DQ,UKAND350MAINST,MALDEN,MA02148,USAEQUITABLEFORAHIGHPROPORTIONOFCASESALEGALREGIMECHARACTERIZEDBYJUDICIALDISCRETION,WHILEACCOMMODATINGMARITALHETEROGENEITYTOSOMEEXTENT,INTRODUCESUNCERTAINTYOVERADJUDICATIONANDMAYPROMOTELITIGATIONONERESPONSETOTHEGREATERVARIETYOFMARITALCIRCUMSTANCES,TOMOREWIDESPREADAWARENESSOFTHEBITTERNESSOFADVERSARIALDIVORCECONFLICTS,ANDTOHIGHERFINANCIALSTAKESONDIVORCEISTHEGROWTHINDEMANDFORPRIVATEORDERINGTHROUGHMARITALCONTRACTSSPECIFYINGPOSTDISSOLUTIONENTITLEMENTSFORPROSPECTIVESPOUSES,THEPRIVATENEGOTIATIONANDINDIVIDUALIZEDTAILORINGOFDIVORCECONSEQUENCESACCORDINGTOCIRCUMSTANCESANDPREFERENCESMAYGENERATEEFFICIENCYGAINSFOREXAMPLE,TOTHEEXTENTTHATRELATIVELYEASYACCESSTOCLEANBREAK,NOFAULTDIVORCEHASATTENUATEDINCENTIVESTOINVESTINMARRIAGE,COUPLESCANPROTECTMARRIAGESPECIFICCAPITALBYCUSTOMIZINGSUPPORTOBLIGATIONSDNES,2000INADDITION,COUPLESMAYVALUETHEFREEDOMPRIVATELYTOORDERTHEIRFINANCIALAFFAIRSRATHERTHANHAVINGJUDICIALSOLUTIONSCOERCIVELYIMPOSEDBYTHESTATE,PERMITTINGAMICABLEDETERMINATIONOFPROPERTYRIGHTSPRIORTOORDURINGMARRIAGERATHERTHANLITIGIOUSLYINDIVORCEPROCEEDINGSGROSSBARDSHECHTMANANDLEMENNICIER,1999INDEED,THEREISSOMEEVIDENCETHATNEGOTIATINGADIVORCESETTLEMENTWITHOUTLEGALINTERVENTIONPROMOTESCOMPLIANCEPETERSETAL,1993ONTHESUPPLYSIDE,ALLEN1990HASARGUEDTHATTHESTATEPERMITSPRIVATEMARITALCONTRACTINGINSTEADOFIMPOSINGITSUNIFORMMARRIAGECONTRACTWHENTHEBENEFITSFROMFLEXIBILITYEXCEEDTHEJUDICIALCOSTSOFUSINGTHIRDPARTYSANCTIONSTOENSUREECONOMICJUSTICECONTEMPORARYMOVESTOWARDSTHECONTRACTUALIZATIONOFMARRIAGE,INWHICHPARTIESDEFINETHEIROWNRELATIONSHIPTERMS,ISTHECOROLLARYOFITSINCREASINGCONCEPTUALIZATIONINTERMSOFRIGHTSTOPROPERTYBELL1997ARGUESFROMANANTHROPOLOGICALPERSPECTIVETHATMARRIAGETRADITIONALLYCONFERREDRIGHTSONAHUSBANDOFSEXUALACCESSTOHISWIFEHOWEVER,INNOVATIONSINFEMALECONTRACEPTIVETECHNOLOGYANDTHELEGALIZATIONOFABORTIONHAVEGIVENGREATERSEXUALANDREPRODUCTIVEAUTONOMYTOWOMENMARRIAGEISNOLONGERDEFINEDSOMUCHINTERMSOFSEXUALRIGHTSBUTRATHERINTERMSOFECONOMICRIGHTSANDCONSEQUENCESITISDISTINGUISHEDFROMNONMARITALCOHABITATIONBYITSIMPLICATIONSFORPROPERTYDIVISION,PENSION,HOUSING,FISCALANDINHERITANCEBENEFITS,ASWELLASBYGREATERENTRYANDEXITCOSTSTHISISTRUEEVENINCOUNTRIESSUCHASSWEDENWHICHSEEKNEUTRALTREATMENTOFDIFFERENTFAMILYFORMSSWEDISHLAWTYPICALLYTREATSNEARLYALLSPOUSALPROPERTYASMARITAL,TOBEPOOLEDANDDIVIDEDEQUALLYONDIVORCE,WHEREASTHATOFCOHABITANTSISTREATEDASSEPARATEPROPERTYBRADLEY,1996INSOFARASTHEINSTITUTIONOFMARRIAGEISCONCEIVEDPRIMARILYINTERMSOFFINANCIALEFFECTS,THISWILLNATURALLYLENDITSELFTOPRIVATECONTRACTINGMOREOVER,MANYLEGALCOMMENTATORSHAVENOTEDARETREATFROMTHEREGULATIONOFMARRIAGEINFAMILYLAW,CREATINGACLIMATEFAVOURABLETOMARITALCONTRACTINGINPARTICULAR,THEFOCUSISSHIFTINGFROMTHELEGALOBLIGATIONSOFPARTNERSTOTHOSEOFPARENTSCARBONE,2000THEMOVEFROMPARTNERSTOPARENTSISEVIDENTINTHEADVENTOFTHECLEANBREAKPHILOSOPHYTHATSEVERSSPOUSALFINANCIALRESPONSIBILITIESINTHEDIVORCESETTLEMENTBUTSTRICTLYENFORCESCONTINUINGCHILDSUPPORTPAYMENTSTHETR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簡(jiǎn)介：2300英文單詞，英文單詞，13500英文字符，中文英文字符，中文3850字文獻(xiàn)出處文獻(xiàn)出處FADZLANSUFIANDETERMINANTSOFBANKPROFITABILITYINDEVELOPINGECONOMIESEMPIRICALEVIDENCEFROMTHESOUTHASIANBANKINGSECTORSJCONTEMPORARYSOUTHASIA,2012,203375399DETERMINANTSOFBANKPROFITABILITYINDEVELOPINGECONOMIESEMPIRICALEVIDENCEFROMTHESOUTHASIANBANKINGSECTORSFADZLANSUFIANTHISSTUDYSEEKSTOEXAMINETHEPERFORMANCEOF77BANGLADESHI,SRILANKAN,ANDPAKISTANICOMMERCIALBANKSBETWEEN1997AND2008THEEMPIRICALFINDINGSSUGGESTTHATBANKSPECIFICCHARACTERISTICS–INPARTICULAR,LIQUIDITY,NONINTERESTINCOME,CREDITRISK,ANDCAPITALIZATION–HAVEPOSITIVEANDSIGNIFICANTIMPACTSONBANKPERFORMANCE,WHILECOSTISNEGATIVELYRELATEDTOBANKPROFITABILITYASFORTHEIMPACTOFMACROECONOMICINDICATORS,THERESULTSSUGGESTTHATECONOMICGROWTHHASPOSITIVEANDSIGNIFICANTIMPACT,WHILEINFLATIONHASNOSIGNIFICANTIMPACTONBANKPROFITABILITYDURINGTHEPERIODUNDERSTUDY,THEEMPIRICALFINDINGSINDICATETHATPRIVATEINVESTMENTISPOSITIVELYRELATEDTOBANKPROFITABILITY,WHILEPRIVATECONSUMPTIONEXPENDITUREEXHIBITSNEGATIVEIMPACTHOWEVER,THEIMPACTISNOTUNIFORMACROSSTHECOUNTRIESSTUDIEDKEYWORDSBANKPROFITABILITYPANELREGRESSIONANALYSISSOUTHASIANBANKINGSECTORS1INTRODUCTIONFINANCIALMARKETS’DEREGULATIONTHROUGHOUTTHEWORLDHASSUBSTANTIALLYTRANSFORMEDTHEECONOMICBEHAVIOROFMANYDEVELOPINGCOUNTRIESNEWECONOMICPOLICIESPROMOTINGFREEMOVEMENTOFCAPITALPLAYAMAJORROLEINALMOSTEVERYCOUNTRYINTHEWORLDTHEINDIANSUBCONTINENTISNOEXCEPTIONANDHASBEENCHANGINGSUBSTANTIALLYALTHOUGHTHESOUTHASIANCOUNTRIESBEGANTHEDEREGULATIONPROCESSLATERTHANMANYOTHERCOUNTRIES,SIGNIFICANTDEREGULATORYMEASURESHAVEALREADYBEENTAKENINMANYASPECTSOFTHEFINANCIALMARKETSTHEBANKINGSECTORISTHEBACKBONEOFTHESOUTHASIANCOUNTRIES’FINANCIALSYSTEMANDPLAYSANIMPORTANTFINANCIALINTERMEDIARYROLEEDIRISURIYA2004PERERA,SKULLY,ANDWICKRAMANAYAKE2006THEDOMINANCEOFBANKSINTHESOUTHASIANCOUNTRIESCANBEEXPLAINEDBYVARIOUSFACTORS,SUCHASTHEUNDERDEVELOPMENTOFTHECAPITALMARKETS,AMONGOTHERSALTHOUGHTHEBANKINGSECTORISTHESINGLEMOSTIMPORTANTFINANCIALINTERMEDIARYINSOUTHASIANCOUNTRIES,THEBANKINGINTERMEDIATIONCAPACITYHASBEENRELATIVELYWEAKFROMTABLE1,ITCANBEOBSERVEDTHATTHEBANKCREDITTOGDPRATIOSINMOSTSOUTHASIANCOUNTRIESARESIGNIFICANTLYLOWERTHANINOTHERDEVELOPINGCOUNTRIESINASIA,IECHINA12618,MALAYSIA1152,ANDTHAILAND1306,ANDPALESINCOMPARISONWITHTHE200ORBETTERLEVELSTYPICALINTHEDEVELOPEDMARKETECONOMIES,IEJAPAN2930,UNITEDKINGDOM2123,ANDUNITEDSTATES2237TABLE1DOMESTICCREDITPROVIDEDBYTHEBANKINGSECTORCOUNTRY199719981999200020012002200320042005200620072008BANGLADESH299430283178341847785044496551865491581358285938BHUTAN15592757138302666116512051853157013901439INDIA461346554924530254655886574459286010633264207159NEPAL341638323868407745824139413841964281437149195272PAKISTAN52125145491341603774366537064105439042874592SRILANKA367836623916437545434224407243304363471345024284CHINA100721131111933119671230014346151881403713556136251320112618MALAYSIA221812165619725179231891718478180861495113622119181134311522THAILAND177581767515578138271285712778130751245311918108881315113057JAPAN276682984430992308912994729919307273032131278304932944229299UNITEDKINGDOM122351197412177130121357414076144871535416211172451882221234UNITEDSTATES187191985921097201132085720051215452212922517232472407522371THEPAKISTANIFINANCIALSECTORCONSISTSOFCOMMERCIALBANKS,DEVELOPMENTFINANCIALINSTITUTIONS,MICROFINANCEBANKS,NONBANKFINANCIALINSTITUTIONSEGLEASINGCOMPANIES,HOUSINGFINANCECOMPANIES,INSURANCECOMPANIES,VENTURECAPITALCOMPANIES,MUTUALFUNDS,ETC,MODARABASNONBANKISLAMICFINANCIALINSTITUTIONS,ANDTHESTOCKEXCHANGEASINMOSTDEVELOPINGCOUNTRIES,THEBANKINGSECTORDOMINATESTHEFINANCIALSYSTEMANDACCOUNTSFORAPPROXIMATELYTWOTHIRDSOFTHEFINANCIALSYSTEM’STOTALASSETSASATEND2008,THEREWEREFOURPUBLICSECTORCOMMERCIALBANKS,25LOCALPRIVATEBANKS,SEVENFOREIGNBANKS,ANDFOURSPECIALIZEDBANKSOPERATINGINTHECOUNTRY’SBANKINGSECTORWITHATOTALOF8774BRANCHESTHEFOURLARGESTCOMMERCIALBANKSACCOUNTEDFORAPPROXIMATELY44OFTHEBANKINGSECTOR’STOTALASSETSINDICATINGAMODERATELEVELOFCONCENTRATIONWITHINTHEPAKISTANIBANKINGSECTORTHESRILANKANFINANCIALSYSTEMISMADEUPOFBANKS,NONBANKINGFINANCIALINSTITUTIONSSUCHASFINANCEANDLEASINGCOMPANIES,SPECIALIZEDFINANCIALINSTITUTIONSSUCHASPRIMARYDEALERSINGOVERNMENTSECURITIESANDUNITTRUSTS,ANDCONTRACTUALSAVINGSINSTITUTIONSSUCHASTHEEMPLOYEES’PROVIDENTFUNDANDINSURANCECOMPANIESASATEND2008,23LICENSEDCOMMERCIALBANKSINCLUSIVEOF12FOREIGNBANKSAND14LICENSEDSPECIALIZEDBANKSWITHMORETHAN5600BRANCHESNATIONWIDE,OPERATEINTHESRILANKANBANKINGSECTORDESPITETHAT,THESRILANKANBANKINGSECTORISHIGHLYCONCENTRATED,WITHTHESIXLARGESTLICENSEDCOMMERCIALBANKS–NAMELYBANKOFCEYLON,PEOPLE’SBANK,COMMERCIALBANKOFCEYLON,HATTONNATIONALBANK,SEYLANBANK,ANDSAMPATHBANK–ACCOUNTINGFORAPPROXIMATELY65OFTHEBANKINGSECTOR’STOTALASSETSINADDITION,THELARGESTLICENSEDSPECIALIZEDBANK,THENATIONALSAVINGSBANK,ACCOUNTSFORANADDITIONAL105OFTHEBANKINGSECTOR’STOTALASSETS3RELATEDSTUDIESTHEPERFORMANCEOFTHEBANKINGSECTORISASUBJECTTHATHASRECEIVEDALOTOFATTENTIONINRECENTYEARSINGENERAL,EMPIRICALSTUDIESHAVEMAINLYFOLLOWEDTWOALTERNATIVEAPPROACHES,NAMELYTHEDEALERSHIPAND/ORTHEFIRMTHEORETICAPPROACHONTHEONEHAND,THEDEALERSHIPAPPR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