Comparison and Design of Financial Systems

Author: Chen Guojin
Publisher:
Publish Date: 2002-07-01
Features: The comparison and design of financial systems is both an old and a new issue. It is considered an old issue because scholars have long debated the choice of financial system structures and the relationship between financial systems and economic growth. Neoclassical economists view financial systems as merely a veil over the economy, while other scholars argue that financial development plays a significant role in economic growth. As for whether bank-dominated or market-dominated financial systems better promote economic growth, the debate has raged for an entire century. It is considered a new issue because since the 1970s, the development of game theory and information economics has allowed us to approach the comparison and design of financial systems from new perspectives and with new tools, providing theoretical guidance for the design and reform of financial systems in transition economies. In this book, game theory and information economics are primarily used as research methods, based on modern microfinance theory, to explore several key issues in the comparison and design of financial systems. The main content includes: Chapter 1: The Formation and Development of Financial Systems, Chapter 2: Financial Systems and Economic Growth, Chapter 3: Theory of Financial Intermediation and Its Development, Chapter 4: Information Technology, Financial Regulation, and Banking Transformation, Chapter 5: Bank System Vulnerability and Macroeconomic Policy, Chapter 6: Financial Safety Nets and Financial Regulation, Chapter 7: Theory of Financial System Design, Chapter 8: Financial System Stability in Developing Countries. This book is the first domestic work in China to explore the comparison and design of financial systems from the perspective of game theory and information economics.