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| Author: | Schmidt, R. |
| Title: | Disintermediation and the role of banks in Europe: an international comparison |
| Journal: | Journal of Financial Intermediation
1999 : JAN/APR, VOL. 8:1/2, p. 36-67 |
| Index terms: | ROLES BANKS EUROPE |
| Language: | eng |
| Abstract: | This paper presents an empirical analysis of the alleged transformation of the financial systems in the three major European economies, France, Germany and the United Kingdom. Based on a unified data set developed on the basis of national accounts statistics, and employing a new and consistent method of measurement, the following question is addressed: Is there a general trend toward disintermediation, with banks losing importance to the markets, that is causing these three financial systems to converge? |
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