Advanced Search
MyIDEAS: Login

Changes in German Finance: Introducing More "Market" into a Bank-based System

Contents:

Author Info

  • Vitols, Sigur

    ()
    (Social Science Research Center Berlin)

Registered author(s):

    Abstract

    Germany has long been known as having one of the most "bank-based" financial systems in comparison with other countries. Recently, however, major changes have been made in Germany in both the business strategies of the large universal banks and in the regulation of the financial system. This paper describes these changes and their consequences for company finance in Germany. The primary conclusion is that, despite legislative reforms and other changes, the bank-based financial system remains quite strong, and is the primary source of external finance for most types of firms. The development of a large and viable "New Economy" sector in Germany, which would both demand more risk capital and also reward the appetite for a higher level of risk with a higher return, is not something which takes place in a few years but rather over decades. Public policies meant to help plug the capital gaps for different categories of firms need to take these factors into account and plan for the long-run

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.intech.unu.edu/publications/eifc-tf-papers/eifc03-29.pdf
    Download Restriction: no

    Bibliographic Info

    Paper provided by United Nations University, Institute for New Technologies in its series EIFC - Technology and Finance Working Papers with number 29.

    as in new window
    Length:
    Date of creation: 2003
    Date of revision:
    Handle: RePEc:dgr:unutaf:eifc03-29

    Contact details of provider:
    Web page: http://www.intech.unu.edu

    Related research

    Keywords: new economy; venture capital; German economy; new technology based firms;

    This paper has been announced in the following NEP Reports:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Storey, D. J. & Tether, B. S., 1998. "Public policy measures to support new technology-based firms in the European Union," Research Policy, Elsevier, vol. 26(9), pages 1037-1057, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:dgr:unutaf:eifc03-29. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ad Notten).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.