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Summer50 gb

Bookcover of Law and Development in Eastern Europe
Booktitle:

Law and Development in Eastern Europe

Economic Analysis of Law, Financial Intermediaries, and Economic Development

VDM Verlag Dr. MŸller Aktiengesellschaft & Co. KG (2008-08-04 )

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ISBN-13:

978-3-639-05695-2

ISBN-10:
3639056957
EAN:
9783639056952
Book language:
English
Blurb/Shorttext:
This dissertation pursues three major goals: (1) to summarize the theoretical understanding of the complex relationship between law, financial intermediaries, and economic development; (2) to review and analyze econometrics-based studies devoted to this relationship; and (3) to create a model that analyzes this relationship using newer generation econometrics techniques. The empirical results from the model suggest that a developing country facing a choice between encouraging a strong banking system or a robust capital market as its major capital allocation tool, should favor the creation of a strong banking system. However, once a country develops, it should switch from a bank-based to a capital-market-based system. The normative implication of these results is that an Eastern European country should use the German-Japanese bank-based model as its major capital allocation tool until it develops, and then should switch to the US-British capital-markets-based model because of its greater flexibility and propensity for quick reallocation of resources.
Publishing house:
VDM Verlag Dr. MŸller Aktiengesellschaft & Co. KG
By (author) :
Svetoslav Minkov
Number of pages:
296
Published on:
2008-08-04
Stock:
Available
Category:
Law, Occupation, Finances
Price:
79.00 €
Keywords:
Law, Development, Econometrics, economic analysis of law, Eastern Europe, Capital Market, economics, empirical

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