The unprecedented number of costly bank failures throughout the world in the last two decades of the twentieth century has focused attention on the need to determine more appropriate ways to improve the performance of countries financial systems. Indeed, a substantial literature is already emerging ...

Do better functioning financial intermediaries -financial intermediaries that are better at ameliorating information asymmetrics and facilitating transactions- exert a causal influence on economic growth? Providing evidence on causality has implications for policymakers and economists. For instance, ...

Por más de un siglo, los economistas y quienes tienen a cargo la política económica han debatido las ventajas relativas a los sistemas financieros basados en el mercado bursátil con respecto a los basados en el sistema bancario. Recientemente, sin embargo, quienes han propuesto un desarrollo del sistema ...