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This paper discusses the different functions that capital markets and banks have in economic development, and it …
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This paper introduces the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative performance of financial systems across the globe. This frontier takes into account structural country characteristics, institutional, and...
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direction thought to be more valuable for society? Should ¡°big¡± banks be broken up? What are the welfare implications of the …
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AbstractThe following sections are included:IntroductionThe Financial Possibility FrontierTaxonomy of Financial Sector ChallengesThe Role of Competition in Financial DeepeningThe Role of Financial InnovationGlobalizationWhat Role for Government?Beyond Policies—All Financial Sector Policy is...
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