Wednesday, April 26, 2006

Business cycle, crisis and institution

Studies of crisis commonly are relied on business cycle theory. Concerning Asian crisis, the weakness of financial institution are usually blamed as a major source. Franklin Allen and Douglas Gale provide a comparation of financial institution system in their book, which should be important to study comparatively different behavior of financial market. Simply speaking, there are three important model of financial institution, which are Anglo-saxon Model (UK and US), Japanese Model and German Model.


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