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Definitions of terms begining
with the same letter as "Bank-based economy"
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Bank-based economy (See Chapter 15 of the Vernimmen)
In a bank-based economy, the capital market is underdeveloped and only a small portion of corporate financing needs are met through the issuance of securities. Bank financing predominates. Companies borrow heavily from banks, whose refinancing needs are in turn covered by the central bank. A bank-based economy is also called a credit-based economy.
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