The Evolving Importance of Banks and Securities Markets

Article, Preprint OPEN
Asli Demirgüç-Kunt ; Erik Feyen ; Ross Levine (2013)
  • Publisher: Oxford University Press on behalf of the World Bank
  • Journal: The World Bank Economic Review, volume 27, issue 3, pages 476-490
  • Related identifiers: doi: 10.1093/wber/lhs022
  • Subject: financial system | financial structure | economic development | stock market | intangible asset | domestic bond market | bank credit | gross domestic product | capitalization | Debt Markets,Economic Theory&Research,Banks&Banking Reform,Markets and Market Access,Access to Finance | financial development | securities market
    • jel: jel:O16 | jel:G1 | jel:F3 | jel:G2

The roles of banks and securities markets evolve during the process of economic development. As countries develop economically, (1) the size of both banks and securities markets increases relative to the size of the economy, (2) the association between an increase in ec... View more
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