Les dangers du passage à un modèle désintermédié du financement des entreprises dans la zone euro

Patrick Artus

Revue d'économie financière, 2016, vol. n° 123, issue 3, 175-184

Abstract: Eurozone corporates already finance more on the capital markets and less through bank lending. This evolution is due to the new regulations of European banks, but also corresponds to a theoretical view according to which financing on the capital markets in more efficient. We believe that the switch of Eurozone corporates to financing on the capital markets is a mistake for two reason: the weakness of the demand of risky assets by individual investors; the requirement, with this type of financing, of a larger flexibility of the labor market. Classification JEL: G20, G32.

JEL-codes: G20 G32 (search for similar items in EconPapers)
Date: 2016
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