institutional roof - banks or non-bank (shadow) banks - under which they are conducted. Our results reveal a declining role of banks … (and a commensurate increase in non-bank banking). These structural shifts (between institutions) are coincident with …

significantly affected by the structure of their financial systems, viz., bank-based and market-based structures. Using panel data … estimations based on data from 82 countries for the period of 1996-2012, we find that in general, bank-based financial system … bank-based structure, higher presence of foreign banks is positively associated with currency market pressure. Additionally …

different ways. In practice, the structure of financial systems can be bank-based or market-based, varying across countries. The …

of the less regulated, so-called shadow banking sector. Employing flow-of-funds data for the Euro Area's non-bank banking … increase in non-bank banking). Overall intermediation activity, hence, has remained roughly at the same level. Moreover, our … findings also suggest that non-bank banks have tended to take positions in riskier assets (particularly in equities). In line …