One line of argument to narrow the gaps in productivity and income per capita across the globe is technological catching-up. It is a process to create and assimilate new or new to the market technologies for producing a vast variety of goods and services which indeed calls for Schumpeterian rents besides sharing the risks. Hence, it is worth knowing the performance of financial system in evaluation and financing of new industries, new technologies and new goods. We have developed an index of overall export variety (OEV), related export variety (REV) and unrelated export variety (UEV) through the informational entropy function for 97 countries of the world using the NBER-UN & UN-Comtrade data 1990-2004. Then we used these indexes sequentially as dependent variables with bank credit ratio and stock market capitalization ratio as independent variables in our regressions besides some other dimensions of the countries constructed through principal component factor analysis. Our empirical findings suggest that bank funding is significantly determining the REV and UEV (ultimately OEV) in poor quintile. While catching-up quintiles reflect that bank funding is comparatively appropriate for REV and stock market funding is comparatively appropriate for UEV, however presence of stock market matters a lot for the poorest and poor performing economies. Governance is significantly impacting the production of REV in poorly performing quintiles but do not impact UEVin catching-up economies. While openness significantly and negatively impacts the REV and has no implications for the UEV. Costs of doing business and political system are not statistically significant for determining any kind of variety in the whole sample. Whereas other control variables i.e. education and natural resources significantly determine the export verities particularly in the poorest and poorly performing economies.