Gropp, R., C. Kok Sorensen, J.-D. Lichtenberger, The dynamics of bank spreads and financial structure, ECB Working Paper No. 714, January 2007. Guiso, L., Jappelli, T., Padula, M. and Pagano, M., Financial Market Integration and Economic Growth in the EU, Economic Policy, 2005, 19 (40), pp. 523-577.
Hartmann, P., F. Heider, E. Papaioannou and M. Lo Duca, The role of financial markets and innovation in productivity and growth in Europe, ECB Occasional Paper Series No. 72, September 2007. Levine, R., Bank-based or market-based financial systems: which is better?, Journal of Financial Intermediation, 11, 2002, pp. 1-30.