Agenda | Papers | Data I Conference Publication
February 10-11, 2000
What are the relative advantages and disadvantages of bank-based financial systems and market-based financial systems?
In bank-based systems (as in Germany and Japan) banks play a leading role in mobilizing savings, allocating capital, overseeing the investment decisions of corporate managers, and providing risk management vehicles.
In market-based systems (as in England and the United States) securities markets share center stage with banks in getting society's savings to firms, exerting corporate control, and easing risk management.
The unresolved debate about whether markets or bank-based intermediaries are more effective at providing financial services hampers the formation of sound policy advice. This conference addresses these important issues.