ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
-A A +A

Domestic Financial Architecture

To assess the relative efficiency of stock markets and banks as intermediaries between savers and investors, this article examines the macrofoundations of micro-economics. The conclusion is that both stock market-based and bank-based systems are inefficient. There is scope for government intervention in the allocation of credit.

Subscribers please login to access full text of the article.

New 3 Month Subscription
to Digital Archives at

826for India

$50for overseas users

Get instant access to the complete EPW archives

Subscribe now

Comments

(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top