Description
This is an examination of the impact of different financial systems on investment. The text considers the increasing effects of globalization on the relationship between financial systems and investment, with particular reference to the USA, UK, France, Japan and Germany. The author explains the way in which countries finance investment and the institutional arrangements which are in place for channelling finance to investment projects. He examines the patterns of sources and uses of funds in non-financial enterprise sectors in the USA, UK, France, Japan and Germany. Using time series data and econometric tests, he measures and categorizes the finacial systems of these countries. He also assesses the empirical evidence to question the commonly-held assumption that financial systems are converging.
