Market Phoenixes and Banking Ducks Are Recoveries Faster in Market-Based Financial Systems?

Market Phoenixes and Banking Ducks Are Recoveries Faster in Market-Based Financial Systems?
Recoveries vary considerably across countries: our paper compares recoveries in bank-based and market-based economies and finds that market-based economies experience significantly and durably stronger rebounds than the bank-based ones (in particular the more bank-based economies of continental Europe). Further, stronger recoveries also tend to... READ MORE...

Publication date: September 2011
ISBN 9781463902292
$18.00

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