Persona: Ruza Paz-Curbera, Cristina
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Ruza Paz-Curbera
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Publicación Impacto económico y social de sentencias por asuntos relacionados con el ámbito financiero(Thomson Reuters Aranzadi, 2020) Ruza Paz-Curbera, CristinaPublicación Banking system resilience and stability: constructing a composite indicator for developed countries(Emerald, 2019-10-14) Ruza Paz-Curbera, Cristina::virtual::3934::600; Cuesta González, Marta María de la::virtual::3935::600; Paredes Gázquez, Juan Diego::virtual::3936::600; Ruza Paz-Curbera, Cristina; Cuesta González, Marta María de la; Paredes Gázquez, Juan Diego; Ruza Paz-Curbera, Cristina; Cuesta González, Marta María de la; Paredes Gázquez, Juan Diego; Ruza Paz-Curbera, Cristina; Cuesta González, Marta María de la; Paredes Gázquez, Juan DiegoThe aim of this paper is to empirically appraise the health of banking systems by applying a new theoretical framework based on complex system theories. For doing so we propose a composite indicator for analysing the resilience and stability of banking systems for a group of advanced economies including the group of G7 countries, Spain and Portugal. The empirical results reveal quite different patterns in the aftermath of the financial crises. While some countries have improved its relative position within the ranking, we find others evolving just in the opposite direction. The main purpose of the indicator is not to make predictions of future banks’ behaviour, but rather to use it as an early warning system for policymakers and supervisors in identifying signs of weakness, as well as a useful tool to identify the best practices.Publicación The relationship of vulnerable financial consumers with banking institutions. A qualitative study in Spain(Elsevier Science, 2021-02) Fernández Olit, Beatriz; Cuesta González, Marta María de la::virtual::3928::600; Paredes Gázquez, Juan Diego::virtual::3929::600; Ruza Paz-Curbera, Cristina::virtual::3930::600; Cuesta González, Marta María de la; Paredes Gázquez, Juan Diego; Ruza Paz-Curbera, Cristina; Cuesta González, Marta María de la; Paredes Gázquez, Juan Diego; Ruza Paz-Curbera, Cristina; Cuesta González, Marta María de la; Paredes Gázquez, Juan Diego; Ruza Paz-Curbera, CristinaThe financial exclusion phenomenon has been approached from different perspectives. After reviewing the recent literature, we adopt a financial ecology approach and propose a comprehensive framework to analyze the different types of difficulties (access, use and perception) that vulnerable financial consumers face in relationships with banking institutions as well as their underlying causes. We consider financial inclusion as the sustainable provision of financial services and products and an adjustment to individual needs. We examine a special group of urban vulnerable consumers: underbanked people facing poverty and social exclusion. Data were obtained from focus groups and were coded and analysed using qualitative data analysis software. The results show that use difficulties predominate, followed by perception difficulties. Bank pressure and lack of financial training stood out among the main causes of these financial difficulties. We conclude that poorer neighborhoods constitute a distinctive financial ecology produced by the ‘discrimination’ of a significant number of their inhabitants in the use of mainstream financial services. The study provides evidence of the socio-spatial nature of the exclusion process and calls for further research on the role of policies responses to restrict abusive practicesPublicación Rethinking the Income Inequality and Financial Development Nexus. A Study of Nine OECD Countries(MDPI, 2020-07-06) Rodríguez, José Miguel; Cuesta González, Marta María de la; Ruza Paz-Curbera, CristinaFinancial crises have devastating effects in terms of income inequality. The recent financial crisis has provoked that inequality within advanced countries has returned to the prevailing levels of a century ago. In this article we look at the relationship between financial development and income inequality from a comprehensive perspective. Our hypotheses state that not only financial depth through credit expansion or capital markets activity matter in terms of income inequality, but also the financial system resilience. We look at a group of OCDE developed countries during the period 2000-2015 and the results confirm that in terms of credit provision there is a point of until which income inequality improves, but beyond this threshold further financial deepening will lead to a reverse effect, in line with the "Too much finance hypothesis". The role of capital markets exerts a widening income inequality effect while financial system resilience helps in alleviating existing income inequality. We recommend regulators and policymakers to pay more attention to financial depth variables, the behaviour of financial intermediaries and the environment in which they operate.Publicación The competitive nature of the Arab Middle Eastern banking markets(Springer, 2002-11) Ruza Paz-Curbera, CristinaThe competitive nature of the Arab Middle Eastern (AME) banking markets during the 1990s is the focus subject of this study. Using banks data from nine AME countries, and utilizing the so-called Rosse-Panzar test to quantitatively appraise the dominant competitive conditions in these markets between 1993–97, this study concluded that banking markets have been operating in the region under conditions of monopolistic competition. An important finding revealed by this study is that in the AME region, where two distinct economic spectrums dominate the markets, banking sector in the oil-producing countries (Gulf States) appears to be less competitive than its counterpart in non-oil countries.Publicación Banks and financial discrimination: what can be learnt from the spanish experience?(Springer, 2019-04-15) Fernández Olit, Beatriz; Ruza Paz-Curbera, Cristina; Cuesta González, Marta María de la; Matilla García, MarianoThe paper analyses the phenomenon of financial discrimination that have been identified in many developed countries in the aftermath of the financial crisis. We would consider the process of quality worsening in the provision of banking products and services as part of the increasing problem of financial exclusion, which should consider not only the physical access to branches but also the difficulties of use of banking services and products. Our primary concern is focused on the collective of vulnerable customers, so we have carried out an analysis at a micro-scale (urban districts and municipalities) to identify the main determinants of the financial discrimination of territories according to their socioeconomic profile. This study constitutes a first attempt to analyse financial discrimination in the provision of banking products and services at an urban micro-scale. We have considered as good references the cases of Madrid and Barcelona in Spain, large urban territories with high level of social inequality. The methodology that had been applied is quantile regressions, useful technique for analysing the ‘extreme’ nature of the phenomenon of financial discrimination. Our results confirm that the more overloaded branches are settled in districts characterised by a lower socioeconomic profile, indicating a banking industry trend towards ‘low-cost’ retail banking to serve the group of less profitable – more vulnerable customers. Some recommendations are outlined for policymakers in line with the aims and scope of the Payment Accounts Directive of the European Union.Publicación The non-linear impact of financial development on environmental quality and sustainability: evidence from G7 countries(MDPI, 2022-07) Caro Carretero, Raquel; Ruza Paz-Curbera, CristinaThis paper analyses the impact of financial development on the environmental quality and sustainability for the group of G7 countries over the period 1990–2019 based on static panel data-fixed effect models. The objective is to explore if there exists a non-linear relationship between the whole financial system development and a wide array of measures of environmental sustainability and degradation, namely adjusted net savings, greenhouse gas, CO2, methane, nitrous oxide emissions and ecological footprint. We define a new Financial Environmental Kuznets Curve (FEKC) by introducing the square term of financial development on the environment-finance relationship. Empirical results prove the existence of non-linear relationships between the composite index of financial development and environmental degradation for the group of advanced economies. In the case of methane, we validate the presence of an inverted-U shape association in line with the FEKC hypothesis, while for greenhouse gas and CO2 the link follows a U-shaped pattern. The impact of financial development on environmental sustainability is monotonically positive and statistically significant while the ecological footprint is not statistically linked with the level of financial development within G7 countries. Economic growth, human capital, population density and primary energy consumption appear as significant drivers of environmental quality and sustainability.Publicación The relationship between vulnerable financial consumers and banking institutions. A qualitative study in Spain(Elsevier, 2021-01-05) Fernández Olit, Beatriz; Cuesta González, Marta María de la; Paredes Gázquez, Juan Diego; Ruza Paz-Curbera, CristinaThe financial exclusion phenomenon has been approached from different perspectives. After reviewing the recent literature, we adopt a financial ecology approach and propose a comprehensive framework to analyse the different types of difficulties (access, use and perception) that vulnerable financial consumers face in relationships with banking institutions as well as their underlying causes. We consider financial inclusion as the sustainable provision of financial services and products and an adjustment to individual needs. We examine a special group of urban vulnerable consumers: underbanked people facing poverty and social exclusion. Data were obtained from focus groups and were coded and analysed using qualitative data analysis software. The results show that use difficulties predominate, followed by perception difficulties. Bank pressure and lack of financial training stood out among the main causes of these financial difficulties. We conclude that poorer neighbourhoods constitute a distinctive financial ecology produced by the ‘discrimination’ of a significant number of their inhabitants in the use of mainstream financial services. The study provides evidence of the socio-spatial nature of the exclusion process and calls for further research on the role of policy responses to restrict abusive practices.