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disintermediation has gained tremendous popularity, especially among American observers. These observers argue that deregulation … measurement concept based on intermediation and securitisation ratios, the present article provides evidence which shows that … banking disintermediation is indeed a reality for the US financial system. This seems to indicate that American banks are not …
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The paper reports results that show a much weakened statistical relationship between total bank credit, total deposits and the broad money supply for the period after 1995 for the US, where no statistical causation can be discerned in either direction. This has been the result of the changing...
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