This book is both a reference book on Germany's financial system and a contribution to the economic debate about its status at the beginning of the twenty-first century. In giving a comprehensive account of the many facets of the system, it covers corporate governance, relationship lending, stock market development, investor protection, the venture capital industry, and the accounting system, and reports on monetary transmission and the credit channel, regulation and banking competition, the insurance and investment industry, and mergers and acquisitions. Special chapters at the beginning and at the end of the book adopt the financial system perspective, analysing the mutual fit of different features of the financial system; and each of the fifteen chapters addresses particular myths that surround it. The book is invaluable for those who want to understand the German economy and its financial system, promising not only a compilation of facts and statistics on Germany's financial markets and institutions, but also an analysis of its current structure and the determinants of its future development.

This book provides an up-to-date overview of the development of the German financial system, with a particular focus on financialization and the financial crisis, topics that have increasingly gained attention since the crisis and the discussion on the secular stagnation started. The authors of the book—economists who have conducted extensive research in this area—offer a perspective on the financial system in the context of its importance for the overall economic system. The book not only provides detailed insights into Germany’s financial system; it also takes a broader perspective on finance and connects it with current macroeconomic developments in Germany.

Inhaltsangabe:Abstract: The essay is about the English and the German banking system, their characteristics and the implications of these. As the English banking system is defined as a specialised banking system and the German one is known as a universal banking system, these terms are explained in the first chapter. Furthermore, the chapter deals with the history of both systems to make clear why these two banking systems developed into two different directions. After having looked at the differences of the two alternative banking systems, their structure is analysed in more detail in the second chapter. All different kinds of banks existing in England and Germany are identified and their scope of functions and goals are described. In the following some important features of the banking systems, such as short-termism and corporate governance, are analysed in great detail. This means that these features are defined and their causes and consequences are identified and evaluated. After the different banking systems have been described with regard to their structure and features, the objective of the next chapter is, to point out the implications of these systems on companies performance. Therefore it is first of all necessary to define performance and the factors being responsible for a high or low economic performance. Afterwards, the influence of the banking systems on these factors are analysed. The last chapter of this essay shortly describes other existing opinions concerning the structure of the banking systems and their implications on companies performance. Furthermore, the chapter points out some tendencies for the future development of these banking systems. Inhaltsverzeichnis:Table of Contents: LIST OF ABBREVIATIONSI LIST OF FIGURESII LIST OF TABLESII 1.INTRODUCTION1 2.PRESENTING THE TWO ALTERNATIVE FINANCIAL SYSTEMS2 2.1THE GERMAN FINANCIAL SYSTEM AND ITS HISTORY2 2.2THE BRITISH BANKING SYSTEM AND ITS HISTORY3 3.STRUCTURE OF THE BANKING SYSTEMS3 3.1GERMANY3 3.1.1General Information4 3.1.2Universal Banks5 3.1.2.1Private Commercial Banks5 3.1.2.2Savings Bank Sector6 3.1.2.3Cooperative Sector7 3.1.3Specialised Banks8 3.2UK9 3.21.1The Banking System in General10 3.2.2Authorised Banks11 3.2.2.1Retail Banking in the UK11 3.2.2.2Wholesale Banking12 3.2.3Listed Discount Market Institutions14 3.2.4Other Financial Institutions14 4.FEATURES OF THE BANKING SYSTEMS15 4.1PROVISION OF CAPITAL AND FUNDING FOR [...]