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Toward A Theory of Optimal Financial Structure / Lin, Justin Yifu
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Lin, Justin Yifu
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Access to Finance.
- Banking concentration.
- Banking sector.
- Banking structure.
- Banks.
- Banks and Banking Reform.
- Capital markets.
- Debt Markets.
- Economic Theory and Research.
- Economics.
- Emerging Markets.
- Finance and Financial Sector Development.
- Financial crises.
- Financial Intermediation.
- Financial markets.
- Financial services.
- Financial structure.
- Financial systems.
- Financial transactions.
- Interest rates.
- Labor Policies.
- Legal protection.
- Macroeconomics and Economic Growth.
- Natural resources.
- Private Sector Development.
- Real sector.
- Risk management.
- Savings.
- Small banks.
- Social Protections and Labor.
- Transaction costs.
- Local Subjects:
- Access to Finance.
- Banking concentration.
- Banking sector.
- Banking structure.
- Banks.
- Banks and Banking Reform.
- Capital markets.
- Debt Markets.
- Economic Theory and Research.
- Economics.
- Emerging Markets.
- Finance and Financial Sector Development.
- Financial crises.
- Financial Intermediation.
- Financial markets.
- Financial services.
- Financial structure.
- Financial systems.
- Financial transactions.
- Interest rates.
- Labor Policies.
- Legal protection.
- Macroeconomics and Economic Growth.
- Natural resources.
- Private Sector Development.
- Real sector.
- Risk management.
- Savings.
- Small banks.
- Social Protections and Labor.
- Transaction costs.
- Physical Description:
- 1 online resource (32 pages)
- Place of Publication:
- Washington, D.C., The World Bank, 2009
- System Details:
- data file
- Summary:
- Each institutional arrangement in a financial system has both advantages and disadvantages in mobilizing savings, allocating capital, diversifying risks, and processing information when facilitating financial transactions. Meanwhile, the factor endowment in an economy at each stage of its development determines the optimal industrial structure in the real sector, which in turn constitutes the main determinant of the size distribution and risk features of viable enterprises with implications for the appropriate institutional arrangement of financial services at that stage. Therefore, there is an endogenously determined optimal financial structure for the economy at each stage of development.
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