Are bank-based or market-based financial systems better?

Ross Levine ()

Journal Econom a Chilena (The Chilean Economy), 2000, vol. 3, issue 1, 25-55

Abstract: For over a century, economists and policy makers have debated the relative merits of bank-based versus market-based financial systems. Recently, however, proponents of the legal-based view of financial development have argued that the century long debate concerning bank-based versus market-based financial systems is analytically vacuous. According to this view, the critical issue is establishing a legal environment in which both banks and markets can operate effectively. This paper represents the first broad, cross-country examination of which view of financial structure and economic growth is most consistent with the data.

Date: 2000
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
https://si2.bcentral.cl/public/pdf/revista-economi ... rec_v3n1_pp25_55.pdf (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:chb:bcchec:v:3:y:2000:i:1:p:25-55

Access Statistics for this article

Journal Econom a Chilena (The Chilean Economy) is currently edited by Sofia Bauducco

More articles in Journal Econom a Chilena (The Chilean Economy) from Central Bank of Chile Contact information at EDIRC.
Bibliographic data for series maintained by Sebastian Antinao ().