IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Financial System Structure and Change - 1986-2005 Evidence from the OECD Countries

  • A. Antzoulatos, Angelos

    ()

    (University of Piraeus)

  • Thanopoulos, John

    (University of Piraeus)

In this paper, we use sixteen financial indices from the World Bank’s Financial Development and Structure database, to classify the OECD countries, according to their financial system structure, in five relatively homogenous clusters for the 1996-2005 period. We also examine the changes in their financial systems for the 1986-2005 period. Our analysis is based on the ‘agglomerative method’, a form of hierarchical clustering that uses Ward’s methodology, to identify relatively homogenous groups of countries. The findings are surprising, yet reasonable. After two decades of deregulation, liberalization and globalization, the financial systems of the OECD countries not only differ in ways challenging the perceived wisdom that classifies them along the bank-based vs. capital-market-based norms, but additionally do not seem to converge to the second norm as is widely believed. These results warn against oversimplifications regarding financial system structure and the uncritical acceptance of policy recommendations based on them.

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Article provided by Center for Economic Integration, Sejong University in its journal Journal of Economic Integration.

Volume (Year): 23 (2008)
Issue (Month): ()
Pages: 977-1001

as
in new window

Handle: RePEc:ris:integr:0461
Contact details of provider: Web page: http://www.e-jei.org/

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

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

When requesting a correction, please mention this item's handle: RePEc:ris:integr:0461. 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: (Jong-Eun Lee)

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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.