Financial Development, Financial Structure and Domestic Investment: International Evidence

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Macroeconomic and institutional determinants of financialisation of non-financial firms: Case study of Turkey (2014, background): “…the late 1980s), which is also held 6Froud, Johal, and William (2000, p. 275) state that coupon pool capitalism in the United States and the United Kingdom is constituted when the capital market moves from intermediation (Ndikumana, 2005, pp. 655–56) to regulation of firm and household behaviour.”
Sovereign Credit Ratings, Capital Flows and Financial Sector Development in Emerging Markets (2006, background): “…at the aggregate, industry and firm level (see inter alia Greenwood and Jovanovic, 1990;, King and Levine, 1993;, Levine, 1997; Levine and Zervos, 1998;, Rajan and Zingales, 1998; Beck et al., 2000; Carlin and Mayer, 2003; Claessens and Laeven, 2003; Fisman and Love, 2004; and Ndikumana, 2005).”
The Financial Development and Growth Nexus: A Meta‐Analysis (2015, unknown): “Beck and Levine (2004) and Ndikumana (2005) examine whether bank-based or market-based systems are more efficient in promoting economic activity, concluding that both types of financial intermediation play a significant role.”