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combination of different international institutions would be needed to keep the world financial system from degenerating into … periodic and destructive crises (Mikesell, 1994). Following the creation of the World Bank, a number of international financial … closely the World Bank course. The European Investment Bank (EIB) and, much later on, the European Bank for Reconstruction and …
Persistent link: https://www.econbiz.de/10011502989
This paper discusses the different functions that capital markets and banks have in economic development, and it reviews the debate about marketbased vs. bank-based financial systems. Using data for a sample of 40 countries over the period 1975-98, the paper then shows that variation in both...
Persistent link: https://www.econbiz.de/10011498528
Persistent link: https://www.econbiz.de/10001778306