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Relationship-Based and Arms-Length Financial Systems A European Perspective

This paper surveys the debate on arms-length and relationship-based financial systems with a special focus on the Eastern Europe and Central Asia region. The paper argues that while the initial dominance of relationship-based systems in the region is consistent with the implications of the theoretic...

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Bibliographic Details
Main Author: Wolf, Holger
Format: eBook
Language:English
Published: Washington, D.C The World Bank 2011
Online Access:
Collection: World Bank E-Library Archive - Collection details see MPG.ReNa
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520 |a This paper surveys the debate on arms-length and relationship-based financial systems with a special focus on the Eastern Europe and Central Asia region. The paper argues that while the initial dominance of relationship-based systems in the region is consistent with the implications of the theoretical literature, the subsequent improvements in supporting institutions coupled with structural changes suggests a greater scope for arms-length elements going forward 

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