For over a century, economists and policy makers have debated the relative merits of bank-based versus market-based financial systems. Recent research, however, argues that classifying countries as bank-based or market is not a very fruitful way to distinguish financial systems. This paper...

This study analyzes the future development of the Chinese Financial System (CFS) based on theory of financial market development and the past regulatory changes within the CFS. The result of our study, a framework for the CFS’s development, may hold predictive power over future regulatory...

One of the main goals of a country is to achieve economic growth. This has led many researchers to understand and determine the factors that boost economic growth. The relationship between these two still remains to be unanswered. It has been discussed in many kinds of research that the...