Financial System Architecture and the Co-Evolution of Banks and Capital Markets

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Finance and Growth: Time Series Evidence on Causality (2015, background): “At the same time, the effectiveness of a particular financial structure depends on a host of country-specific factors such as the legal and contractual environment (Deidda and Fattouh, 2008; Song and Thakor, 2010), informational structure (Boot and Thakor, 1997) and new technologies available (Allen”
The Financial Stress Index: Identification of Systemic Risk Conditions (2011, unknown): “38 Song and Thakor (2010), p. 1024.”
Fintech and banking: What do we know? (2019, background): “In the earlier theories depicting the borrower's choice between bank and capital market financing (e.g. Boot and Thakor, 1997, 2000 and Song and Thakor, 2010), those seeking relationship loans go to banks and those seeking transaction loans go to the capital market.”
Large debt financing: syndicated loans versus corporate bonds (2010, unknown): “Some recent literature also analyses potential complementarities between bank lending and capital market funding (Diamond 1991; Hoshi, Kashyap, and Scharfstein 1993; Song and Thakor 2008).”