Singh, Shikha; Sarma, Mandira - In: Journal of central banking theory and practice 9 (2020), pp. 9-32
This paper attempts to investigate empirically whether financial and macroeconomic stability of economies are … 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 …