Comparing financial systems / Franklin Allen and Douglas Gale.

Format:

Book

Author/Creator:

Allen, Franklin, 1956- author.

Gale, Douglas, author.

Language:

English

Subjects (All):

Finance.

Comparative economics.

Physical Description:

1 online resource (x, 507 pages) illustrations, charts, graphs; digital file(s).

Place of Publication:

Cambridge, Mass. : MIT Press, [2000]

Language Note:

English

System Details:

data file

Summary:

Why do different countries have such different financial systems? Is one system better than the other? This text argues that the view that market-based systems are best is simplistic, and suggests that a more nuanced approach is necessary.

Contents:

Setting the stage. Comparing financial systems

The historical development of financial systems

Institutions and markets

Corporate governance

The limitations of markets: the classical view

Competition versus insurance. Intertemporal smoothing

Information and resource allocation

Competition in banking

Financial crises

Renegotiation and relationships

The role of the firm. Autonomous, self-financing firms

Objectives of firms

Markets and intermediaries. Diversity of opinion and resource allocation

Costly markets

Relationships and risk sharing.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references and index.

Other Format:

Print version (paperback):

Print version (hardback):

ISBN:

9780585303592

0-262-26699-7

0-585-30359-2