Ongan T. H., Akkay R. C., Altaylıgil Y. B.
Banks and Banks Systems, no.7, pp.18-23, 2012 (Peer-Reviewed Journal)
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Publication Type:
Article / Article
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Publication Date:
2012
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Journal Name:
Banks and Banks Systems
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Journal Indexes:
EconLit
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Page Numbers:
pp.18-23
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Istanbul University Affiliated:
Yes
Abstract
The distinction between bank-based versus market-based financial system and its relationship with the economic
growth has been a divisive issue in the last two decades. The authors suggest a new way to distinguish financial systems based on the idea “bank-biased” versus “market-biased” rather than “bank-based” versus “market-based” distinction. The empirical results of this paper illustrate a “market-biased” transformation of the Turkish financial system for
the years 1987-2009. The main cause of this transformation is huge public debts and financial openness in the long run