Publication: Relationship-Based and Arms-Length Financial Systems : A European Perspective
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2011-10-01
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2012-03-19
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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.
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“Wolf, Holger. 2011. Relationship-Based and Arms-Length Financial Systems : A European Perspective. Policy Research working paper ; no. WPS 5833. © World Bank. http://hdl.handle.net/10986/3597 License: CC BY 3.0 IGO.”
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