Can I read **Comparing Financial Systems**. Franklin Allen and Douglas Gale, The MIT Press, Cambridge, MA, 2000, x+507 pp. Price £37.95; US$55.00; AU$124.00. ISBN 0‐26201‐127‐8 (hardback), 0‐26251‐125‐8 (paperback) on EtoBox?

**Comparing Financial Systems**. Franklin Allen and Douglas Gale, The MIT Press, Cambridge, MA, 2000, x+507 pp. Price £37.95; US$55.00; AU$124.00. ISBN 0‐26201‐127‐8 (hardback), 0‐26251‐125‐8 (paperback) by Željko Šević is a Economics, Econometrics and Finance article available to read on EtoBox.

What is **Comparing Financial Systems**. Franklin Allen and Douglas Gale, The MIT Press, Cambridge, MA, 2000, x+507 pp. Price £37.95; US$55.00; AU$124.00. ISBN 0‐26201‐127‐8 (hardback), 0‐26251‐125‐8 (paperback) about?

This book provides both a solid overview of financial system development in different leading developed countries and develops models of a few different problematic aspects of financial system design. It represents an extension of work by both authors done in the 1990s on intertemporal smoothing, (in)complete contracts in finance, etc. Certainly this book, despite what may be a somewhat misleading title, makes a significant contribution to modem literature on imperfect credit and insurance markets, moral hazard and asymmetric information in changing institutional arrangements. The book also introduces, in a few places, 'transaction costs' and the authors should be congratulated on their very successful synthesis of different schools of economic thought in this book. The volume gives a timely and comprehensive account of modern developments in the area of financial system design (architecture) a topic which was greatly neglected from the 1960s until the late 1990s (when scholars believed that the problem of financial system design had been solved for good). Allen and Gale themselves wrote a number of papers in this area both together and individually, and in the analysis of recent d

Who reads **Comparing Financial Systems**. Franklin Allen and Douglas Gale, The MIT Press, Cambridge, MA, 2000, x+507 pp. Price £37.95; US$55.00; AU$124.00. ISBN 0‐26201‐127‐8 (hardback), 0‐26251‐125‐8 (paperback)?

Author

Željko Šević

Publisher

Wiley

Published

2001

Language

EN

Field

Economics, Econometrics and Finance (Social Sciences)