The roles of banks and securities markets evolve during the process of economicdevelopment. As countries develop economically, (1) the size of both banks andsecurities markets increases relative to the size of the economy, (2) the associationbetween an increase in economic output and an increase in bank developmentbecomes smaller, and (3) the association between an increase in economic output andan increase in securities market development becomes...
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2012/08/24
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日志文章
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112392
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2017/02/28
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The evolving importance of banks and securities markets
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security market