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Model of Financial Development: A cluster analysis

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  • Dalila NICET-CHENAF (GREThA, CNRS, UMR 5113)

Abstract

This article is a contribution to the analysis of financial development diversity in developing countries and lies within model of capitalism’s framework. By taking into account the degree of control of banking system and securities markets, our empirical analysis produces a three-group typology identifying an embryonic financial system, an intermediate financial system bank oriented and a financial system in maturity. Moreover, this typology cannot support the hypothesis of a model specific to emerging countries but a model for LDC countries and a model for developed countries.

Suggested Citation

  • Dalila NICET-CHENAF (GREThA, CNRS, UMR 5113), 2012. "Model of Financial Development: A cluster analysis," Cahiers du GREThA 2012-01, Groupe de Recherche en Economie Théorique et Appliquée.
  • Handle: RePEc:grt:wpegrt:2012-01
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    References listed on IDEAS

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    More about this item

    Keywords

    Financial development; growth; models of capitalism; factorial analysis; and cluster analysis.;

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • F3 - International Economics - - International Finance

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