National Culture and Financial Systems
dc.contributor.author | Tadesse, Solomon | en_US |
dc.contributor.author | Kwok, Chuck | en_US |
dc.date.accessioned | 2007-10-25T20:20:56Z | |
dc.date.available | 2007-10-25T20:20:56Z | |
dc.date.issued | 2005-03-01 | en_US |
dc.identifier.other | RePEc:wdi:papers:2007-884 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/57264 | en_US |
dc.description.abstract | Countries differ in the way their financial activities are organized. In Anglo-Saxon countries such as the U.S. and the U.K., financial systems are dominated by stock markets whereas in Continental Europe and Japan, banks play a predominant role. Why do countries differ in the configuration of their financial systems? We argue that national culture plays a significant role. We find that countries characterized by higher uncertainty avoidance, as an attribute of their national culture, are more likely to have a bank-based system. | en_US |
dc.format.extent | 300823 bytes | |
dc.format.extent | 1802 bytes | |
dc.format.mimetype | application/pdf | |
dc.format.mimetype | text/plain | |
dc.relation.ispartofseries | 884 | en_US |
dc.subject | Financial Systems, Bank-based, Market Based, Culture, Uncertainty Avoidance | en_US |
dc.subject.other | G1, G2, P51, Z1 | en_US |
dc.title | National Culture and Financial Systems | en_US |
dc.type | Working Paper | en_US |
dc.subject.hlbsecondlevel | Economics | en_US |
dc.subject.hlbtoplevel | Business | en_US |
dc.contributor.affiliationum | William Davidson Institute | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/57264/1/wp884 .pdf | en_US |
dc.owningcollname | William Davidson Institute (WDI) - Working Papers |
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