Law and Development in Eastern Europe
Economic Analysis of Law, Financial Intermediaries, and Economic Development
978-3-639-05695-2
3639056957
296
2008-08-04
79,00 €
eng
https://images.our-assets.com/cover/230x230/9783639056952.jpg
https://images.our-assets.com/fullcover/230x230/9783639056952.jpg
https://images.our-assets.com/cover/2000x/9783639056952.jpg
https://images.our-assets.com/fullcover/2000x/9783639056952.jpg
This dissertation pursues three major goals: (1) to summarize the theoretical understanding of the complex relationship between law, financial intermediaries, and economic development; (2) to review and analyze econometrics-based studies devoted to this relationship; and (3) to create a model that analyzes this relationship using newer generation econometrics techniques.
The empirical results from the model suggest that a developing country facing a choice between encouraging a strong banking system or a robust capital market as its major capital allocation tool, should favor the creation of a strong banking system. However, once a country develops, it should switch from a bank-based to a capital-market-based system. The normative implication of these results is that an Eastern European country should use the German-Japanese bank-based model as its major capital allocation tool until it develops, and then should switch to the US-British capital-markets-based model because of its greater flexibility and propensity for quick reallocation of resources.
https://morebooks.shop/books/it/published_by/vdm-verlag-dr-m%C2%9Fller-aktiengesellschaft-co-kg/185350/products
Diritto, professione, finanze
https://morebooks.shop/store/it/book/law-and-development-in-eastern-europe/isbn/978-3-639-05695-2