Fall 2008. Problem Set 2. Money, Banking and Financial Markets (EC 330)Please answer all the questions below and return your answers Tuesday March25th1)Define a “market based” financial system and a “bank‐based” financial system. Given examplesof countries with the two types of financial systems. Using the notes and the tables in the notesexplain why you chose to classify the various countries as “market based” or “bank based”. (5points)2)Describe the key steps in the evolution of the US banking system in the 19
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