Imperial College London

Professor Franklin Allen

Business School

Assoc Dean of Faculty & Res/ Dir of Brevan Howard Centre



+44 (0)20 7594 9195f.allen Website CV




2.05B52-53 Prince's GateSouth Kensington Campus






BibTex format

author = {Allen, HF and Gu, XIAN and Kowalewski, O},
booktitle = {Handbook of Finance and Development},
editor = {Beck and Levine},
title = {Financial Structure. Economic Growth and Development},
year = {2017}

RIS format (EndNote, RefMan)

AB - Financial intermediaries and markets can alleviate market frictions through producinginformation and risk sharing in different ways. In practice, the structure of financialsystems can be bank-based or market-based, varying across countries. The influence offinancial structure on economic growth is dependent on the overall development of thereal economy and institutions. The association is also different during crisis periods andnon-crisis periods. Market-based systems tend to have an advantage for financiallydependent industries in good times but are a disadvantage in bad times. The recent rapidgrowth of shadow banking benefits economic growth but also poses additional risks tothe financial system and real economy.
AU - Allen,HF
AU - Kowalewski,O
PY - 2017///
TI - Financial Structure. Economic Growth and Development
T1 - Handbook of Finance and Development
ER -