Bank Based And Market Based Financial Systems
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Bank Based And Market Based Financial Systems
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Author : Asl? Demirgüç-Kunt
language : en
Publisher: World Bank Publications
Release Date : 1999
Bank Based And Market Based Financial Systems written by Asl? Demirgüç-Kunt and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Bancos categories.
Bank Based And Market Based Financial Systems
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Author : Asli Demirgüç-Kunt
language : en
Publisher:
Release Date : 2016
Bank Based And Market Based Financial Systems written by Asli Demirgüç-Kunt and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Financial systems tend to ...
Funding Growth In Bank Based And Market Based Financial Systems
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Author : Asl? Demirgüç-Kunt
language : en
Publisher: World Bank Publications
Release Date : 2000
Funding Growth In Bank Based And Market Based Financial Systems written by Asl? Demirgüç-Kunt and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Bancos categories.
How the relative development of a country's stock market and banking system affects firms' growth is closely tied to how well developed the country's contracting environment is. How differences in the contracting environment affect the relative development of the stock market or banking system may have implications for which firms and which projects get financing.
Funding Growth In Bank Based And Market Based Financial Systems
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Author : Vojislav Maksimovic
language : en
Publisher:
Release Date : 2016
Funding Growth In Bank Based And Market Based Financial Systems written by Vojislav Maksimovic and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
How the relative development of a country's stock market and banking system affects firms' growth is closely tied to how well developed the country`s contracting environment is. How differences in the contracting environment affect the relative development of the stock market or banking system may have implications for which firms and which projects get financing.Demirguc-Kunt and Maksimovic investigate whether firms' access to external financing to fund growth differs between market-based and bank-based financial systems.Using firm-level data for 40 countries, they compute the proportion of firms in each country that relies on external finance and examine how that proportion differs across financial systems. They find that the development of a country's legal system predicts access to external finance and that stock markets and the banking system have different effects on access to external markets. The development of securities markets is related more to the availability of long-term financing, whereas the development of the banking sector is related more to the availability of short-term financing.They find no evidence, however, that firms' access to external financing is predicted by an index of the development of stock markets relative to the development of the banking system.This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to study financial structure and development. The study was funded by the Bank's Research Support Budget under the research project Financial Structure and Economic Development (RPO 682-41). The author may be contacted at [email protected].
Market Based Banking And The International Financial Crisis
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Author : Iain Hardie
language : en
Publisher: Oxford University Press
Release Date : 2013-08-29
Market Based Banking And The International Financial Crisis written by Iain Hardie and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-29 with Business & Economics categories.
This edited volume offers a study of national banking systems and explains how banking developed in the years preceding the international financial crisis that erupted in 2007. Its analysis of market-based banking shows the impact of the financial crisis in eleven developed economies, including all of the G7 economies.
Varieties Of Capitalism
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Author : Peter A. Hall
language : en
Publisher: OUP Oxford
Release Date : 2001-08-30
Varieties Of Capitalism written by Peter A. Hall and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-08-30 with Business & Economics categories.
What are the most fundamental differences among the political economies of the developed world? How do national institutional differences condition economic performance, public policy, and social well-being? Will they survive the pressures for convergence generated by globalization and technological change? These have long been central questions in comparative political economy. This book provides a new and coherent set of answers to them. Building on the new economics of organization, the authors develop an important new theory about which differences among national political economies are most significant for economic policy and performance. Drawing on a distinction between 'liberal' and 'coordinated' market economies, they argue that there is more than one path to economic success. Nations need not converge to a single Anglo-American model. They develop a new theory of 'comparative institutionaladvantage' that transforms our understanding of international trade, offers new explanations for the response of firms and nations to the challenges of globalization, and provides a new theory of national interest to explain the conduct of nations in international relations. The analysis brings the firm back into the centre of comparative political economy. It provides new perspectives on economic and social policy-making that illuminate the role of business in the development of the welfare state and the dilemmas facing those who make economic policy in the contemporary world. Emphasizing the 'institutional complementarities' that link labour relations, corporate finance, and national legal systems, the authors bring interdisciplinary perspectives to bear on issues of strategic management, economic performance, and institutional change. This pathbreaking work sets new agendas in the study of comparative political economy. As such, it will be of value to academics and graduate students in economics, business, and political science, as well as to many others with interests in international relations, social policy-making, and the law.
Comparing Financial Systems
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Author : Franklin Allen
language : en
Publisher: MIT Press
Release Date : 2000
Comparing Financial Systems written by Franklin Allen and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
Why do different countries have such different financial systems? Is one system better than the other? This text argues that the view that market-based systems are best is simplistic, and suggests that a more nuanced approach is necessary.
Market Phoenixes And Banking Ducks Are Recoveries Faster In Market Based Financial Systems
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Author : Mr.Julien Allard
language : en
Publisher: International Monetary Fund
Release Date : 2011-09-01
Market Phoenixes And Banking Ducks Are Recoveries Faster In Market Based Financial Systems written by Mr.Julien Allard and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-01 with Business & Economics categories.
Recoveries vary considerably across countries: our paper compares recoveries in bank-based and market-based economies and finds that market-based economies experience significantly and durably stronger rebounds than the bank-based ones (in particular the more bank-based economies of continental Europe). Further, stronger recoveries also tend to be associated with broader economic flexibility. Our findings suggest that dealing with bank sector vulnerabilities is paramount to support the recovery. In the medium term, structural policies to deepen financial markets are useful, but need to be complemented with structural measures to address rigidities more broadly in the real economy.
The German Financial System
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Author : Tobias Albrecht
language : en
Publisher: GRIN Verlag
Release Date : 2014-03-03
The German Financial System written by Tobias Albrecht and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-03 with Business & Economics categories.
Seminar paper from the year 2013 in the subject Economics - Finance, grade: 1,0, University of Massachusetts Boston, language: English, abstract: As widely recognized, financial systems play an important role for economic growth. The German as well as the American economy seemed to be both very successful over the last decade in terms of GDP growth. Although both economies are successful, their financial systems differ widely. While the American system is strongly capital market-based, banks play the dominant role in the German financial system. As it was for a long time a purely bank-based system, it represented a unique financial system around the world. In this paper, I will point out the main features of the traditional German financial system. I will mainly focus on the role and structure of the financial sector, financing patterns of firms, and the German corporate governance system. So far, most academic literature has concentrated on the peculiarities of the “old” German financial system. In the following paper, recent developments will also be included. Major changes and trends of the German financial system since the begin-nings of the 2000s will be outlined, leading to the question if the system underwent a process of transformation from a bank-based to a capital market-based financial system. I will begin with a brief summary of the basic definitions, concepts and classifications that are necessary to describe and analyze the German financial system. In chapter 3, the “old” German financial system, called an international prototype of a bank-based system, is outlined. After ex-plaining the main elements of the “old” German financial system focusing on the financial sector, financing patterns of firms and the corporate governance system, recent changes and develop-ments since the 2000s will follow in chapter 4. Within chapter 4, the current state of the German financial system will be described with an emphasis on developments that could have led to a transformation to a capital market-based system. This description leads to the conclusion in chapter 5 that the German financial system has not transformed to capital market-based system and kept its unique peculiarities but is no longer a purely bank-based financial system.
Financial Structure And Bank Profitability
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Author : Asl? Demirgüç-Kunt
language : en
Publisher: World Bank Publications
Release Date : 2000
Financial Structure And Bank Profitability written by Asl? Demirgüç-Kunt and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Bank profits categories.
Countries differ in the extent to which their financial systems are bank-based or market-based. The financial systems of Germany and Japan, for example, are considered bank-based because banks play a leading role in mobilizing savings, allocating capital, overseeing investment decisions of corporate managers, and providing risk management vehicles. The systems of the United States, and the United Kingdom are considered more market-based. Using bank-level data for a large number of industrial and developing countries, the authors present evidence about the impact of financial development, and structure on bank performance. They measure the relative importance of bank or market finance by the relative size of stock aggregates, by relative trading or transaction volumes, and by indicators of relative efficiency. They show that in developing countries, both banks and stock markets are less developed, but financial systems tend to be more bank-based. The richer the country, the more active are all financial intermediaries. The greater the development of a country's banks, the tougher is the competition, the greater is the efficiency, and the lower are the bank margins, and profits. The more under-developed the stock market, the greater are the bank profits. But financial structure per se does not have a significant, independent influence on bank margins, and profits.