Financial Structure and Economic Growth: A Cross-Country Comparison of Banks, Markets, and Development (The MIT Press) - Softcover

Softcover

ISBN 10: 0262541793 ISBN 13: 9780262541794

Verlag: MIT Press, 2004

Inhaltsangabe

This is the first broad cross-country assessment of the ties between financial structurethe mix of financial instruments, institutions, and markets in a given economyand 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 Kingdom, and the United States, countries with similar long-run growth rates. The absence of data on developing countries limits the usefulness of such studies for policy makers.

The book contains recently acquired cross-country data from almost 150 countries. It includes information on the size, efficiency, and activity of banks, insurance companies, pension and mutual funds, finance companies, and stock and bond markets. It also incorporates information on each country's political, economic, and social environment. The chapters contain a mix of case studies, cross-country studies, macro- and micro-oriented approaches, and analytical and empirical work. The conclusions point not to markets versus banks, but to markets and banks. It is how well a financial system functions that is critical for long-run economic growth. The research suggests that strong legal rights for outside investors and the overall efficiency of contract enforcement are effective tools for developing the financial sector and the economy. The book includes a CD containing World Bank data.

Über diesen Titel

Über die Autorinnen und Autoren

Asli Demirgüç-Kunt is Director of Development Policy in the World Bank's Development Economics Vice Presidency and Chief Economist of the Financial and Private Sector Development Network (FPD). She is the coeditor of Financial Structures and Economic Growth: A Cross-Country Comparison of Banks, Markets, and Development (MIT Press, 2001).

Ross Levine is the Willis H. Booth Chair in Banking and Finance at the University of California, Berkeley, and Senior Fellow at the Milken Institute.

Details zur Ausgabe

• Verlag: MIT Press
• Erscheinungsdatum: 2004
• Sprache: Englisch
• ISBN 10: 0262541793
• ISBN 13: 9780262541794
• Einband: Tapa blanda
• Anzahl der Seiten: 444
• Herausgeber: Demirgüç-Kunt Asli, Levine Ross
• Kontakt zum Hersteller: Nicht verfügbar