Book Review Richard Deeg, Financial Capitalism Unveiled: panied by shift of perspective from the long-term Banks and the German Political Economy, Ann to the short-term, as firms depend more on Arbor: University of Michigan Press, 1999. market finance (the old ‘short-termism’ complaint about market finance). The question of anglo- Financial system design – a topic of enduring saxonization is important, because it may under- concern to economists and policymakers – has mine what is argued to be the traditional German attracted particular attention from scholars in the strategy of diversified quality production. The last ten or so years. Partly motivated by questions implicit argument here is that high quality requires surrounding the redevelopment of transition a long-term view and limited competition. economies, political scientists and economists This same chapter reviews recent changes in have been trying to determine how the structure banks’ holdings of company equity stakes and of the financial system influences industrial reports fairly significant reductions in holdings growth and development. Richard Deeg’s book over the late 70s–90s. Similar patterns arise contributes to this literature by examining the in proxy voting – traditionally argued to be German financial and political-economic systems important way in which banks gained
Small Business Economics – Springer Journals
Published: Oct 2, 2004
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