Logo
Munich Personal RePEc Archive

Financial System Classification: From Conventional Dichotomy to a More Modern View

Veysov, Alexander (2012): Financial System Classification: From Conventional Dichotomy to a More Modern View.

[thumbnail of MPRA_paper_40613.pdf]
Preview
PDF
MPRA_paper_40613.pdf

Download (1MB) | Preview

Abstract

This paper is to provide literature review on traditional financial system classification and offer and alternative classification of financial systems. Conventional wisdom holds that there are basically 2 types of financial systems – bank-based and market-based. But modern research points to the fact that such opinion may be quite biased. We consider several functions of financial system (not only financing, but corporate governance and information dissemination) and construct a database of financial metrics and institutional variables is order to conduct cluster-analysis. Our findings include: dichotomy does not hold; institutional environment is a key driver of financial system development; commodity exporters have inadequately low institutional development level.

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.