> No doubt a major reason for the lack of equity markets and equity
> financing in most third world countries. The US is almost unique in the
> prominent role played by equity markets in providing capital for
> business. Banks and other more hands on intermediaries play a much
> larger role even in Europe and Japan than in the US. - - Bill Dickens
> William T. Dickens
Is the US equity market a historical accident, or is this somehow
natural when the state doesn't sponsor banks like in Japan and Europe?
Fabio
