The role of complementarity and the financial liberalization in the financial crisis

Adeline Saillard ()
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Adeline Saillard: Centre d'Economie de la Sorbonne - Paris School of Economics, https://centredeconomiesorbonne.cnrs.fr

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

Abstract: This study provides evidence of the role played by the financial structure and the liberalization in the crisis for low, middle and high income countries classified by geographic region. The traditional view of the financial structure-bank vs market based economies is challenged by using the concept of complementarity. We find, as measured by the index proposed in Saillard and Url (2011) the complementary systems to be less vulnerable to financial crises and countries with a low level of liberalization in the financial markets and the banking sectors

Keywords: Bank-based; market-based; complementarity; crisis; financial structure (search for similar items in EconPapers)
JEL-codes: E44 G10 G18 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2012-06
New Economics Papers: this item is included in nep-ban
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:12038

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