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The Efficiency and Stability of Banks and Markets Author info | Abstract | Publisher info | Download info | Related research | Statistics Franklin Allen () (University of Pennsylvania)
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Traditionally, financial systems have been bank-based or market-based. The efficiency properties of these systems are compared in various dimensions. These include risk sharing, information provision, funding new industries, corporate governance, and law, finance and politics. Both systems have advantages and disadvantages. With regard to stability, both bank-based and market-based systems are subject to crises. Going forward a financial system with financial intermediaries and markets would have many advantages and few disadvantages.
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Paper provided by National Bank of Belgium in its series Research series with number
200405-8.
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Length: 31 pages
Date of creation: May 2004Date of revision:
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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.: Butzen, Paul & Fuss, Catherine & Vermeulen, Philip, 2001.
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Paul Butzen & Catherine Fuss & Philip Vermeulen, 2001.
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references Cited by : (explanations , 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.)
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