Research Catalog

Title

Do Financial Systems Converge? [electronic resource]: New Evidence from Household Financial Assets in Selected OECD Countries / Giuseppe Bruno and Riccardo De Bonis

Author

Bruno, Giuseppe.

Publication

Paris : OECD Publishing, 2009.

Details

Additional Authors

De Bonis, Riccardo.

Description

24 p.; 21 x 29.7cm.

Summary

Many authors underlined the convergence of financial structures towards a model which combines elements of the Anglo Saxon one, where markets prevail, with characteristics of the continental European systems, where intermediaries are predominant. The goal of this paper is to study financial systems convergence through the lens of household asset allocation. We analyze s and ß convergence of total household financial assets and their main components: deposits, securities other than shares, shares and other equity, insurance technical reserves. The novelty of the paper is to exploit a database containing time series since 1980 for nine OECD countries. Using disposable income as a scale variable, we found convergence of household total financial assets, insurance technical reserves and shares and other equity. Weaker results are obtained for convergence of household securities other than shares, and currency and deposits. In a nutshell, financial systems show signals of convergence in asset allocation, but national characteristics persist when households invest in securities and deposits.

Series Statement

OECD Statistics Working Papers, 1815-2031 ; no.2009/01

Uniform Title

OECD Statistics Working Papers, no.2009/01.

Subject

Economics

LCCN

10.1787/224175173554

OCLC

oecd-lib-001025

Author

Bruno, Giuseppe.

Title

Do Financial Systems Converge? [electronic resource]: New Evidence from Household Financial Assets in Selected OECD Countries / Giuseppe Bruno and Riccardo De Bonis

Imprint

Paris : OECD Publishing, 2009.

Series

OECD Statistics Working Papers, 1815-2031 ; no.2009/01

OECD Statistics Working Papers, 1815-2031 ; no.2009/01.

Connect to:

http://dx.doi.org/10.1787/224175173554

Indexed Term

Economics

Added Author

De Bonis, Riccardo.

Other Standard Identifier

10.1787/224175173554 doi