Vol.1, No 9, 2001 pp. 35 - 48
UDC 336.6/.7
REDESIGNING THE FINANCIAL SYSTEM: A PUZZLE
OF THE INSTITUTIONAL CHOICE AND CAPACITY BUILDING?
Željko Šević
Department of Accounting and Finance,The Business School
University of Greenwich, Old Royal Naval College, Park Row
London SE10 9LS, England, UK
Abstract. The paper analyses the generally adopted classifications
of the financial system. Financial systems are classified, in this paper,
as either Market-based and Bank-based. However, many subgroups and the
differences amongst them were pointed out. Although these differences may
look to an outside observer minor and unimportant, at the very bottom line
national differences may well influence the overall structure of the financial
system, and create a hybrid solution. Although both German and Japanese
financial systems are generally classified as Bank-based financial systems,
differences amongst them are significant and the role of banks somewhat
different. The paper does not deal with the area of financial system efficiency,
but focuses on the main concepts of organisation and their major characteristics
and features.
REDIZAJNIRANJE FINANSIJSKOG SISTEMA -
NEDOUMICA IZBORA INSITUCIJA I IZGRADNJE NJIHOVOG POTENCIJALA
U radu se analizira opšte prihvaćena klasifikacija finansijskog sistema.
Finansijski sistemi se klasifikuju u ovom radu kao orjentisani na tržište
i i orjentisani ka bankama. Takođe se ukazuje na mnoge podgrupe i razlike
među njima. Mada ove razlike spoljnim posmatračima mogu izgledati kao nebitne,
u krajnjoj liniji nacionalne razlike mogu znatno uticati na ukupnu stukturu
finansijskog sistema i stvoriti hibridno rešenje. Mada i Japanski i Nemački
finansijski sistemi mogu biti klasifikovani kao finansijski sistemi zasnovani
na bankama, razlike među njima ostaju značajne a uloga banaka u izvesnom
smislu različite. U radu se ne analiziraju problemi efikasnosti finansijskog
sistema, već se pažnja usmerava na glavne koncepte organizacije i njegove
osnovne karakteristike.
