@inbook{Allen:2017, 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} }
TY - CHAP 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 - Gu,XIAN AU - Kowalewski,O PY - 2017/// TI - Financial Structure. Economic Growth and Development T1 - Handbook of Finance and Development ER -