Relationship-Based and Arms-Length Financial Systems : A European Perspective

• Tác giả: Holger Wolf
• Ngôn ngữ: eng
• Ký hiệu phân loại: 658.1 Organization and finance
• Thông tin xuất bản: 2012
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 324289
• Chủ đề: 1. ACCESS TO EXTERNAL FINANCE; 2. ACCOUNTING; 3. ACCOUNTING STANDARDS; 4. ALTERNATIVE FUNDING; 5. BANK POLICY

Tóm tắt

This paper surveys the debate on arms-length and relationship-based financial systems with a special focus on the Eastern Europe and Central Asia region. The paper argues that while the initial dominance of relationship-based systems in the region is consistent with the implications of the theoretical literature, the subsequent improvements in supporting institutions coupled with structural changes suggests a greater scope for arms-length elements going forward.