Model of Financial Development: A cluster analysis

Dalila NICET-CHENAF (GREThA, CNRS, UMR 5113)
Authors registered in the RePEc Author Service: Dalila Nicet - Chenaf ()

Cahiers du GREThA from Groupe de Recherche en Economie Théorique et Appliquée

Abstract: 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.

Keywords: Financial development; growth; models of capitalism; factorial analysis; and cluster analysis. (search for similar items in EconPapers)
JEL-codes: O16 O10 O43 C8 F3 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fdg
Date: 2012
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