Title: ERODING MARKET IMPERFECTIONS, REINTERMEDIATION, AND DISINTERMEDIATION
Abstract: Abstract In this paper a search model of a financial market, generalized to include costly contracting, is employed to demonstrate that: (i) relative cost efficiency for an intermediary is not sufficient to explain a role for intermediation services, and (ii) eroding market imperfections do not produce hypothesized effects on “reintermediation” from traditional depository‐type intermediaries to brokerage‐type intermediaries and on “disintermediation” from indirect financing to direct financing under a set of justifiable assumptions.
Publication Year: 1991
Publication Date: 1991-12-01
Language: en
Type: article
Indexed In: ['crossref']
Access and Citation
Cited By Count: 4
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot