Bank-Based and Market-Based Financial Systems: Cross-Country Comparisons

@inproceedings{DemirgucKunt1999BankBasedAM,
  title={Bank-Based and Market-Based Financial Systems: Cross-Country Comparisons},
  author={Asli Demirguc-Kunt},
  year={1999}
}
What are the relative advantages and disadvantages of bank-based financial systems (as in Germany and Japan) and market-based financial systems (as in England and the United States). Does financial structure matter? In bank-based systems banks play a leading role in mobilizing savings, allocating capital, overseeing the investment decisions of corporate managers, and providing risk management vehicles. In market-based systems securities markets share center stage with banks in getting society's… Expand
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