TY  - BOOK
AU  - Beck,Thorsten
AU  - Levine,Ross
ED  - National Bureau of Economic Research.
TI  - Industry Growth and Capital Allocation: Does Having a Market- or Bank-Based System Matter? 
T2  - NBER working paper series
PY  - 2002///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - June 2002; Hardcopy version available to institutional subscribers
N2  - Are market-based or bank-based financial systems better at financing the expansion of industries that depend heavily on external finance, facilitating the formation of new establishments, and improving the efficiency of capital allocation across industries?  We find evidence for neither the market-based nor the bank-based hypothesis.  While legal system efficiency and overall financial development boost industry growth, new establishment formation, and efficient capital allocation, having a bank-based or market-based system per se does not seem to matter much
UR  - https://www.nber.org/papers/w8982
UR  - http://dx.doi.org/10.3386/w8982
ER  -