Financial Structure and Financial Crisis
Allen, Franklin | June 2000
Abstract
This paper analyzes the Asian crisis in the context of past and present financial crises to provide a model of asset price bubbles and ensuing crisis in developing and other economies. It is argued that financial structure matters for economic growth but is not that important for preventing financial crises. Moreover, financial crises do not seem to be primarily caused by country specific factors. A bank-based financial system has some advantages for countries trying to develop an economy based on manufacturing in traditional industries. For economies where the main industries are knowledge based, however, equity and debt markets may be more advantageous.
Citation
Allen, Franklin. 2000. Financial Structure and Financial Crisis. © Asian Development Bank Institute. http://hdl.handle.net/11540/4838. License: CC BY 3.0 IGO.Keywords
Economic Crisis
Economic Efficiency
Economic Policies
Regional Economic Development
Job Evaluation
Evaluation
Price stabilization
Food prices
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http://hdl.handle.net/11540/4838Metadata
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