Comparing financial systems / ALLEN, Franklin ; GALE, Douglas

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Comparing financial systems / ALLEN, Franklin ; GALE, Douglas

Book

ALLEN, Franklin | GALE, Douglas

Published by MIT Press - 2001

Library: Paris Champerret

Source : Syracuse

Item type: Book
Language: English

Publication year: 2001

ISBN: 978-0-262-51125-4

Note

Figures, notes

Geographical area: GENERAL

The authors compare financial systems in different countries. They argue that the view that market-based systems are best is simplistic. A more nuanced approach is necessary. Financial institutions are not simply veils, disguising the allocation mechanism without affecting it, but are crucial to overcoming market imperfections. An optimal financial system relies on both financial markets and financial intermediaries.

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