Financial Intermediation, Markets, and Alternative Financial Sectors

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dc.contributor.author ALLEN, Franklin
dc.contributor.author CARLETTI, Elena
dc.contributor.author QIAN, Jun 'QJ'
dc.contributor.author VALENZUELA, Patricio
dc.date.accessioned 2012-04-02T08:15:39Z
dc.date.available 2012-04-02T08:15:39Z
dc.date.issued 2012
dc.identifier.issn 1725-6704
dc.identifier.uri http://hdl.handle.net/1814/21455
dc.description.abstract We provide a comprehensive review of firms’ financing channels (internal and external, domestic and international) around the globe, with the focus on alternative finance—financing from all the nonmarket, non-bank external sources. We argue that while traditional financing channels, including financial markets and banks, provide significant sources of funds for firms in developed countries, alternative financing channels provide an equally important source of funds in both developed and developing countries. Alternative finance is often the dominant source of funds for firms in fastgrowing economies. We compare market- and bank-finance with alternative finance, along with the supporting mechanisms such as legal and institutional structures. Much more research is needed to better understand alternative finance and its role in corporate financing. We suggest ways to obtain firm-level data on various forms of alternative finance and thus overcome the main obstacle in the field. en
dc.language.iso en en
dc.relation.ispartofseries EUI ECO en
dc.relation.ispartofseries 2012/11 en
dc.subject O5 en
dc.subject K0 en
dc.subject G2 en
dc.subject alternative finance en
dc.subject markets en
dc.subject banks en
dc.subject trade credits en
dc.subject governance en
dc.subject growth en
dc.title Financial Intermediation, Markets, and Alternative Financial Sectors en
dc.type Working Paper en
dc.neeo.contributor ALLEN|Franklin|aut|
dc.neeo.contributor CARLETTI|Elena|aut|EUI70001
dc.neeo.contributor QIAN|Jun 'QJ'|aut|
dc.neeo.contributor VALENZUELA|Patricio|aut|


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