How is Investment Financed? A Study of Germany, Japan, UK and US
The main aims of this paper are, first, to construct a consistent comparative set of data on the sources of finance for investment over the period 1970-94 for the UK, US, Germany and Japan, and second, to challenge some conventional views of the international differences in financing patterns. We find that there is little evidence to support the view that Germany is a "bank financed" system nor that the UK or US are "market financed".
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