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The Plight of Modern Markets: How Universal Banking Undermines Capital Markets

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  • Carolyn Sissoko

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  • Carolyn Sissoko, 2017. "The Plight of Modern Markets: How Universal Banking Undermines Capital Markets," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 46(1), pages 53-104, February.
    • Handle: RePEc:bla:ecnote:v:46:y:2017:i:1:p:53-104
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    2. Puri, Manju, 1994. "The long-term default performance of bank underwritten security issues," Journal of Banking & Finance, Elsevier, vol. 18(2), pages 397-418, January.
    3. Markus K. Brunnermeier & Lasse Heje Pedersen, 2009. "Market Liquidity and Funding Liquidity," Review of Financial Studies, Society for Financial Studies, vol. 22(6), pages 2201-2238, June.
    4. Michie, Ranald, 2001. "The London Stock Exchange: A History," OUP Catalogue, Oxford University Press, number 9780199242559.
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    6. Kroszner, Randall S & Rajan, Raghuram G, 1994. "Is the Glass-Steagall Act Justified? A Study of the U.S. Experience with Universal Banking before 1933," American Economic Review, American Economic Association, vol. 84(4), pages 810-832, September.
    7. Adrian, T. & Shin, H S., 2009. "The shadow banking system: implications for fi nancial regulation," Financial Stability Review, Banque de France, issue 13, pages 1-10, September.
    8. Ang, James S. & Richardson, Terry, 1994. "The underwriting experience of commercial bank affiliates prior to the Glass-Steagall Act: A reexamination of evidence for passage of the act," Journal of Banking & Finance, Elsevier, vol. 18(2), pages 351-395, January.
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    10. Fohlin, Caroline, 2007. "Does Civil Law Tradition and Universal Banking Crowd out Securities Markets? Pre-World War I Germany as Counter-Example," Enterprise & Society, Cambridge University Press, vol. 8(3), pages 602-641, September.
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    14. Sissoko, Carolyn, 2007. "An Idealized View of Financial Intermediation," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 1, pages 1-29.
    15. Levine, Ross, 2002. "Bank-Based or Market-Based Financial Systems: Which Is Better?," Journal of Financial Intermediation, Elsevier, vol. 11(4), pages 398-428, October.
    16. Carola Schenone, 2004. "The Effect of Banking Relationships on the Firm's IPO Underpricing," Journal of Finance, American Finance Association, vol. 59(6), pages 2903-2958, December.
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    Cited by:

    1. Rodica Hincu & Florin-Marian Buhociu & Marcelina Rosca, 2016. "The Contribution of Banks towards the Formation of Capital Market Liquidity: the Case of Moldova," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 282-290.
    2. Carolyn Sissoko, 2021. "Modern Legal Practice as the Engine of Inequality," Development and Change, International Institute of Social Studies, vol. 52(1), pages 192-201, January.

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