An Endogenous Growth Model of Money, Banking, and Financial Repression PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download An Endogenous Growth Model of Money, Banking, and Financial Repression PDF full book. Access full book title An Endogenous Growth Model of Money, Banking, and Financial Repression by Marco Espinosa. Download full books in PDF and EPUB format.
Author: Marco Espinosa
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 44
Get Book Here
Book Description
Author: Marco Espinosa
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 44
Get Book Here
Book Description
Author: Marco A. Espinosa-Vega
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
In this paper, we develop an endogenous growth model with financial intermediation to examine the effects of financial repression on growth, inflation, and welfare. By limiting the liquidity provision, binding reserve requirements always suppress economic growth while their effect on inflation is a function, among other things, of the degree of repression. For example, contrary to previous claims, if financial repression is severe enough so that an informal financial sector emerges, liberalization is inflationary. Notwithstanding, liberalization in these cases is always welfare improving. Finally, we characterize the condition that gives rise to a unique optimal level of binding reserve requirements, i.e., the optimal degree of quot;moderatequot; financial repression.
Author: Marco Espinosa-Vega
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 34
Get Book Here
Book Description
Author: Maxwell J. Fry
Publisher:
ISBN:
Category : Developing countries
Languages : en
Pages : 76
Get Book Here
Book Description
Author: Mr.Etibar Jafarov
Publisher: International Monetary Fund
ISBN: 151351248X
Category : Business & Economics
Languages : en
Pages : 66
Get Book Here
Book Description
Financial repression (legal restrictions on interest rates, credit allocation, capital movements, and other financial operations) was widely used in the past but was largely abandoned in the liberalization wave of the 1990s, as widespread support for interventionist policies gave way to a renewed conception of government as an impartial referee. Financial repression has come back on the agenda with the surge in public debt in the wake of the Global Financial Crisis, and some countries have reintroduced administrative ceilings on interest rates. By distorting market incentives and signals, financial repression induces losses from inefficiency and rent-seeking that are not easily quantified. This study attempts to assess some of these losses by estimating the impact of financial repression on growth using an updated index of interest rate controls covering 90 countries over 45 years. The results suggest that financial repression poses a significant drag on growth, which could amount to 0.4-0.7 percentage points.
Author: Mr.Pablo Emilio Guidotti
Publisher: International Monetary Fund
ISBN: 1451852452
Category : Business & Economics
Languages : en
Pages : 38
Get Book Here
Book Description
This paper examines the empirical relationship between long–run growth and the degree of financial development, proxied by the ratio of bank credit to the private sector as a fraction of GDP. We find that this proxy enters significantly and with a positive sign in growth regressions on a large cross–country sample, but with a negative sign using panel data for Latin America. Our findings suggest that the main channel of transmission from financial development to growth is the efficiency of investment, rather than its volume. We also present a model where the negative correlation between financial intermediation and growth results from financial liberalization in a poor regulatory environment.
Author: Maxwell J. Fry
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 596
Get Book Here
Book Description
Examines monetary and financial policies and their effects on rates of economic growth in developing countries and describes balanced assessment of the role of money, banking and finance in the process of economic development.
Author: Rangan Gupta
Publisher:
ISBN:
Category :
Languages : en
Pages : 210
Get Book Here
Book Description
Author: Ronald I. McKinnon
Publisher: Marcel Dekker
ISBN:
Category : Business & Economics
Languages : en
Pages : 360
Get Book Here
Book Description
Textbook tracing the role of the monetary system and financial system in economic growth and development - covers financial policy in developing countries, the cost of inflation and approaches to deflation, the effects of economic integration and the international monetary system on local finance and monetary policy, and includes perspectives for coordination within the EC. References.
Author: Perry G. Mehrling
Publisher:
ISBN: 9780203452820
Category : Business & Economics
Languages : en
Pages : 464
Get Book Here
Book Description
Allyn Young is one of the central figures in the development of American economic thought, and is one of the originators of modern endogenous growth theory. This book allows full appreciation of the full extent of Young's work because many of his most significant contributions are buried in obscure journals and unsigned articles. This volume addresses this by reprinting much of Young's lost work, as well as other selected pieces that reveal the scope of his vision which encompasses two of the grand themes of economics, growth and money. The volume includes sections on: * the socialist movement * the first world war and its aftermath * money * theories of growth
