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Bank-based versus market-based financial systems: a critique of the dichotomy

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  • Malcolm Sawyer

    (University of Leeds)

Abstract

The paper sets out different perspectives on the bank-based vs market-based typology of financial systems. It presents a general critique of the typology, paying particular attention to the ways in which the typology reflects a loanable funds approach, ignoring the roles of banks in the credit money creation process, and the neglect of different types of banks. It is argued that banks should be viewed as institutions engaged in market transactions and the equity markets as also institutions involved in markets.

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File URL: http://fessud.eu/wp-content/uploads/2013/04/Bank-based-versus-market-based-financial-systems-a-critique-of-the-dichotomy-working-paper-19.pdf
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Bibliographic Info

Paper provided by Financialisation, Economy, Society & Sustainable Development (FESSUD) Project in its series Working papers with number wpaper19.

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Length: 33 pages
Date of creation: 20 Jan 2014
Date of revision:
Handle: RePEc:fes:wpaper:wpaper19

Contact details of provider:
Postal: FESSUD Co-ordinator (Malcolm Sawyer) Leeds University Business School Maurice Keyworth Buidling Leeds LS2 9JT

Related research

Keywords: bank-based financial system; market-based financial system;

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