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Model of Financial Development: A cluster analysis

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

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.

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Paper provided by Groupe de Recherche en Economie Théorique et Appliquée in its series Cahiers du GREThA with number 2012-01.

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Date of creation: 2012
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Handle: RePEc:grt:wpegrt:2012-01
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