development indices from the World Bank's Financial Development and Structure database, to test for financial system convergence … credit by banks and less so for the bond market segment. Moreover, the convergent clubs for most indices transcend the …

forgo margins in favor of liquidity. Regulatory attempts to stabilize markets by manipulating bank failures may ultimately …

-balance sheet structured finance-based funding, the regulatory approval of banks' use of credit default swaps for hedging capital … do not exist. Everything will look like systemic risk, merely because banks reside in a financial system! Today, off … needs, and the preponderance of non-bank subsidiaries in bank holding companies after Gramm-Leach-Bliley led to multiple …

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 … robustly linked with economic growth, there is no support for either the bank-based or market-based view …

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 … robustly linked with economic growth, there is no support for either the bank-based or market-based view …