How Far Can Disintermediation Go?

While most business loans in the United States are made through the financial markets, in Europe, businesses obtain their funding largely through bank loans. This landscape has been profoundly altered in recent years, with a sharply accelerating disintermediation process following the 2007–2008 crisis, the development of new financial transaction technologies and changes in banking regulations. How far can disintermediation go? This session will examine this urgent issue by addressing the impact of disintermediation on economic growth, the types of financing available to businesses and market effectiveness as well as credit crunch issues, crowdfunding and the introduction of new technologies to financial markets.