Demirguc-Kunt, Asli; Huizinga, Harry - Economics Research, World Bank Group - 2000
Countries differ in the extent to which their financial systems are bank-based or market-based. The financial systems … of Germany and Japan, for example, are considered bank-based because banks play a leading role in mobilizing savings … the United States, and the United Kingdom are considered more market-based. Using bank-level data for a large number of …