Comparing Financial Systems

by Franklin Allen and Douglas Gale

Book Overview

The authors argue that the view that market-based systems are best is simplistic; a more nuanced approach is necessary.

Financial systems are crucial to the allocation of resources in a modern economy. They channel household savings to the corporate sector and allocate investment funds among firms; they allow intertemporal smoothing of consumption by households and expenditures by firms; and they enable households and firms to share risks...

• Format: Paperback
• Language: English
• ISBN: 0262511258
• ISBN13: 9780262511254
• Release Date: March 2001
• Publisher: MIT Press
• Length: 520 Pages
• Weight: 1.55 lbs.
• Dimensions: 1.0" x 6.0" x 9.0"
• Age Range: 18 years and up
• Grade Range: Postsecondary and higher