A critique on the theory of financial intermediation

被引：63

作者：

Scholtens, B

van Wensveen, D

机构：

[1] Univ Groningen, Dept Finance, NL-9700 AV Groningen, Netherlands

[2] Erasmus Univ, Rotterdam, Netherlands

[3] Univ Amsterdam, Amsterdam, Netherlands

来源：

JOURNAL OF BANKING & FINANCE | 2000年 / 24卷 / 08期

关键词：

banks; financial intermediation; financial system; risk management; transformation;

D O I：

10.1016/S0378-4266(99)00085-0

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This comment discusses the review by Franklin Alien and Anthony Santomero of the theory of financial intermediation in the 20th anniversary special issue of the Journal of Banking and Finance. We do not fully agree with their view that risk management is only of recent importance to the financial industry and with putting central the concept of participation costs. We suggest how the theory of financial intermediation might be developed further in order to understand present-day phenomena in the financial services sector. (C) 2000 Elsevier Science B.V. All rights reserved. JLSL classtfication: E51; G10; G20; L23.

引用

页码：1243 / 1251

页数：9