Mullineux, A; Murinde, V; Sensarma, R - In: Economic Issues Journal Articles 15 (2010) 2, pp. 49-68
We investigate the patterns of corporate financing through bank loans, bond markets and stock markets in the European Union (EU). Specifically, we examine whether the EU economies are converging towards a market-oriented or a bank-oriented financial system. Panel unit root tests and GMM...