Comparative Financial System

A falha na articulação entre real e financeiro na economia brasileira: reflexões sobre o impacto nas firmas, competitividade e desenvolvimento tecnológico

by Elson Rodrigo Souza Santos

Co-authored Armando Dalla Costa
Preliminary and incomplete version

This work explores the relationship between the economy and financial in the Brazil. We start from the assumption that... more This work explores the relationship between the economy and financial in the Brazil. We start from the assumption that the fault is identified in the high degree of difficulty in self-financing and financing of new, small and medium firms have access to channels to obtain funds for investment. The findings suggest that the fault lies in not finding a financial structure that fits with national peculiarities and industrial policy, contributing to low competitiveness and technological development of Brazilian industry. However, throughout the 2000s, there is evidence of the construction of a new institutional arrangement through the strengthening of public credit and the cash flows, benefit from the use of financial products and own resources for financing investment projects. In parallel, indicating that large firms solved the financing problem, but the arrangement needs to be improved, be better integrated with industrial policy and reduce the financial repression of other firms.

Sistema financeiro e desenvolvimento: uma discussão teórica sobre bank-based, market-based e abordagem funcional

by Elson Rodrigo Souza Santos

Preliminary and incomplete version

Over time several authors have discussed how best to organize the financial system to promote growth of... more
Over time several authors have discussed how best to organize the financial system to promote growth of long-term cover and support the changes arising from development. The recurring debate about the structures and theoretical defenses of the bank-based system (based on financial intermediaries) and market-based (direct relationship between savers and borrowers of funds). More recently, the functional approach was added as a central point that puts the capacity of the financial system to support the productive sector and moving to the background structure. In this paper seek to present the theoretical aspects of these three visions highlighting the differences in the defense and criticism, but also seeking to compare the concentrations in common and how they can see the same problem through different perspectives.

Financial system models, corporate governance and capital investment in OECD countries: some stylized facts

by Felix Lopez-Iturriaga

Co-authored with P. Andrés. Published in European Investment Bank Papers 2(2), 69-95. Awarded with the European Investment Bank Award (1997).

The effects of alternative financial system models on corporate governance

by Felix Lopez-Iturriaga

Co-authored with P. Andrés, V. Azofra and J.M. Rodríguez. Published in Strategic challenges in European Banking. E. Gardener y J. Falzone (Ed.). 70-111. MacMillan Publishers

Description of Financial Domain Name Projects - New Top-Level Domains for Specialized Financial Name Spaces

by Winfried BOEING

CORE - Working Paper Series, co-authored with U. Schneider and W. Staub

Domains for financial instruments require a governance model specific to the type of financial instrument where the... more Domains for financial instruments require a governance model specific to the type of financial instrument where the key stakeholders in the market are represented. Thanks to being instrument-specific, they can eliminate the risk of confusion through appropriate oversight and controls, prior to a given name ever being activated. CORE has launched an international stakeholder group to foster research in and application of Financial Names Spaces for the new Top Level Domains soon becoming subject in global discussions around extending the gTLDs administered by ICANN.

Keywords: ICANN, gTLDs, Financial Domains, Namespace, Internet

JEL Classifications: G20, G28, G38, F42, Z1
Working Paper Series