Bank-Centered Financial Systems Boost Developing Nations' Growth, Opaque Markets Key.
The article shows that in developing countries, it's better to have a financial system centered around banks rather than stock markets. This is because in fast-growing economies, companies are more likely to invest when information about investments is kept private for a while. In developed countries, public information doesn't affect investment as much. So, in developing nations, having less public information through bank-centered systems is more beneficial for encouraging investment.