Tools
Tools
Makhlouf, Y. 
ORCID: 0000-0001-7737-3153 and Vinogradov, D.,
2021.
Two faces of financial systems: provision of services versus shock-smoothing.
Journal of International Financial Markets, Institutions and Money, 75: 101456.
ISSN 1042-4431
|
Text
1481904_Makhlouf.pdf - Post-print Download (997kB) | Preview |
Abstract
Banks and financial markets contribute to economic growth directly – by providing information, liquidity and other services to investors and borrowers, and indirectly – by dampening the impact of exogenous shocks on growth. Do banks and markets perform equally well in both? Our panel of 44 developing and 29 developed countries in 1975-2017 demonstrates significance of only the service channel in advanced economies: they perform better if they are market-based. In less developed economies financial structure has no direct relevance for growth but offers shock-smoothing advantages through banks; market trading activity makes shocks absorbed faster and transmitted to the real sector quicker.
| Item Type: | Journal article | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Publication Title: | Journal of International Financial Markets, Institutions and Money | ||||||||
| Creators: | Makhlouf, Y. and Vinogradov, D. | ||||||||
| Publisher: | Elsevier | ||||||||
| Date: | November 2021 | ||||||||
| Volume: | 75 | ||||||||
| ISSN: | 1042-4431 | ||||||||
| Identifiers: |
|
||||||||
| Divisions: | Schools > Nottingham Business School | ||||||||
| Record created by: | Jonathan Gallacher | ||||||||
| Date Added: | 26 Oct 2021 10:05 | ||||||||
| Last Modified: | 20 Oct 2022 03:00 | ||||||||
| URI: | https://irep.ntu.ac.uk/id/eprint/44511 |
Actions (login required)
 |
Edit View |
Views
Views per month over past year
Downloads
Downloads per month over past year
