Three Essays on Financial Crisis

Three Essays on Financial Crisis
Author: Michael Pomerleano
Publisher:
Total Pages: 129
Release: 2007
Genre:
ISBN: 9780549040699

The second essay tests the hypothesis that market-based financial systems work better than bank-based systems because they provide backup intermediation and facilitate restructuring in the aftermath of a crisis. It tests the hypothesis using cross-country empirical data and multiple measures and tests. It does not find empirical support for the hypothesis.