The Financial system and economic performance

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      <subfield code="a">Merton, Robert C.</subfield>
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      <subfield code="a">The Financial system and economic performance</subfield>
      <subfield code="c">Robert C. Merton</subfield>
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      <subfield code="a">In this article, the general topic of the financial system and economic performance is addressed by analyzing three specific ones: financial innovation, below-investment grade debt, and loan guarantees. These topics, of course, have substantive importance of their own. Indeed, each is touched upon in other articles in this issue. However, their prime use here is as "strategic research sities", concrete settings from which to establish propositions, raise general questions, and expose some common fallacies about financial market and institutions, including the functional and dysfunctional roles of government in the economic performance of the system</subfield>
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      <subfield code="a">Sistemas financieros</subfield>
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      <subfield code="a">Desarrollo económico</subfield>
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      <subfield code="a">Productos financieros</subfield>
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      <subfield code="a">Garantías</subfield>
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      <subfield code="d">London : Kluwer Academic Publishers</subfield>
      <subfield code="g">1990 ; p. 263-300</subfield>
      <subfield code="t">Journal of Financial Services Research</subfield>
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