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Debt and net financial wealth: a comparative analysis for some European countries

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  • Cinquegrana, Giuseppe

Abstract

The impact of the different financial frameworks on the long-run growth is one of the most debated arguments in the economic theory. In this paper we present a theoretical and empirical analysis of the financial systems which characterize the financial interrelation in some European countries: the bank oriented model and the market oriented one. The first one was developed during the last part of the nineteenth century in the countries where the court system was based on the civil law principles, the other one became the financial model for the countries historically characterized by a regulatory framework with the common law approach. Considering the financial accounts of some European countries (source: EUROSTAT data, OECD data), we calculate the Goldsmith’s ratios and other indicators for the period 2000-2008. For each considered country as regard to the European Monetary Union, first of all we asses the financial interrelation and intermediation and then we analyze the debt and the net financial wealth of the private non financial sector and of the Households one.

Suggested Citation

  • Cinquegrana, Giuseppe, 2010. "Debt and net financial wealth: a comparative analysis for some European countries," MPRA Paper 30556, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:30556
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    File URL: https://mpra.ub.uni-muenchen.de/30556/1/MPRA_paper_30556.pdf
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    Cited by:

    1. Blagovesta Nikolova, 2014. "Marketizing the up-to-date forecasting," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 115-132.

    More about this item

    Keywords

    financial framework; civil law; common law; bank and market oriented; financial accounts; Goldsmith’s ratios.;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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