Financial Structure and Economic Growth
Demirguc-Kunt, Asli (Senior Research Manager, Finance and Private Sector Development, The World Bank) / Levine, Ross (William H. Booth Chair in Banking and Finance, University of California At Berkeley)
This is the first broad cross-country assessment of the ties between financial structure -- the mix of financial instruments, institutions, and markets in a given economy -- and economic growth since Raymond Goldsmith's 1969 landmark study. Most studies focus on developed countries and compare bank-based and market-based systems. Debates over the relative merits of the two systems have relied on case studies of Germany, Japan, the United Kingd...