June 2000 - Do industries that depend heavily on external finance grow faster in market-based or bank-based financial … systems? Are new firms more likely to form in a bank-based or a market-based financial system? Beck and Levine find no … evidence for the superiority of either market-based or bank-based financial systems for industries dependent on external …

Are market-based or bank-based financial systems better at financing the expansion of industries that depend heavily on … industries? We find evidence for neither the market-based nor the bank-based hypothesis. While legal system efficiency and … bank-based or market-based system per se does not seem to matter much …