Bank-based versus market-based financial systems: a critique of the dichotomy

Malcolm Sawyer ()

Working papers from Financialisation, Economy, Society & Sustainable Development (FESSUD) Project

Abstract: The paper sets out different perspectives on the bank-based vs market-based typology of financial systems. It presents a general critique of the typology, paying particular attention to the ways in which the typology reflects a loanable funds approach, ignoring the roles of banks in the credit money creation process, and the neglect of different types of banks. It is argued that banks should be viewed as institutions engaged in market transactions and the equity markets as also institutions involved in markets.

Keywords: bank-based financial system; market-based financial system (search for similar items in EconPapers)
JEL-codes: G19 G20 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2014-01-20
New Economics Papers: this item is included in nep-ban, nep-cfn, nep-his and nep-pke
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://fessud.eu/wp-content/uploads/2013/04/Bank-b ... working-paper-19.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fes:wpaper:wpaper19

Access Statistics for this paper

More papers in Working papers from Financialisation, Economy, Society & Sustainable Development (FESSUD) Project FESSUD Co-ordinator (Malcolm Sawyer) Leeds University Business School Maurice Keyworth Buidling Leeds LS2 9JT.
Bibliographic data for series maintained by Helen Evans ( this e-mail address is bad, please contact ).