"Reconfiguration of financial systems is one of the prime topics in global finance today. National economics rely heavily on the efficiency and dynamism of the financial system. Allocating and reallocating capital promotes growth by supporting emerging industries and cleaning-out declining sectors. Identifying which kind of system does this most effectively is of great interest to policy makers as well as managers directly involved in the financial services industry."--BOOK JACKET. "Universal Banking: Financial System Design Reconsidered provides insight into the ongoing changes in financial systems."--BOOK JACKET. "Universal banking has been the subject of intense debate around the world, among practitioners interested in the strategy and performance of financial institutions, academics interested in the future shape of financial systems, and regulators concerned about stability and systemic risks."--BOOK JACKET. "Universal Banking: Financial System Design Reconsidered is the product of a conference held under the auspices of the New York University Salomon Center in February 1995. The conference was based upon the work of academic observers of the banking industry in the United States, Europe, and Japan."--BOOK JACKET.