Comparing financial systems / ALLEN, Franklin ; GALE, Douglas - ESCP Business School

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Comparing financial systems / ALLEN, Franklin ; GALE, Douglas

Book

ALLEN, Franklin | GALE, Douglas

Published by MIT Press. Cambridge [Massachusetts] - 2001

Source : Ebsco collections

Item type: Book
Language: anglais
Pages: 507 p.

Publication year: 2001

ISBN: 978-0-262-51125-4

Region

GENERAL

Note

Figures, notes

Note

References, index

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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