Typologie des systèmes financiers des pays émergents et/ou en développement

This paper aims to conduct a comparative analysis of the evolution of financial systems in emerging countries and / or development. This comparative analysis is performed through the use of various techniques namely the principal component analysis and hierarchical clustering on a sample of 52 emerging and / or developing and during the period 1996 to 2009 statistics. The results show a strong heterogeneity of financial systems in terms of depth, efficiency, openness, legal, regulatory and macroeconomic stability. We highlighted also the primacy of institutions in explaining differences economic performance of financial systems.