Open AccessPosted Content
Code and data files for "Quantifying the Impact of Financial Development on Economic Development"
Reads0
Chats0
TLDR
In this article, a costly state verification model of financial intermediation is presented to address the question of how important financial development for economic development, and the model is calibrated to match facts about the U.S. economy, such as the intermediation spreads and the firm-size distributions for 1974 and 2004.Abstract:
How important is financial development for economic development? A costly state verification model of financial intermediation is presented to address this question. The model is calibrated to match facts about the U.S. economy, such as the intermediation spreads and the …firm-size distributions for 1974 and 2004. It is then used to study the international data using cross-country interest-rate spreads and per-capita GDPs. The analysis suggests a country like Uganda could increase its output by 116 percent if it could adopt the world’s best practice in the financial sector. Still, this amounts to only 29 percent of the gap between Uganda’s potential and actual output.read more
Citations
More filters
Posted Content
Misallocation and Establishment Dynamics
Kaoru Hosono,Miho Takizawa +1 more
TL;DR: In this article, the authors investigate the impact of distortions on aggregate TFP, entry and exit, and establishment-level productivity growth using a rich dataset of Japanese establishments falling into manufacturing industries.
Journal ArticleDOI
Financial market reform – A new driver for China’s economic growth?
TL;DR: In this paper, a tractable general equilibrium model was proposed to analyze the financial distortions in China using a tractability-based approach, in which heterogeneous private and state-owned firms interact.
Posted Content
What Determines the Composition of International Bank Flows
TL;DR: In this article, the authors studied how frictions to foreign bank operations affect the sectoral composition of banks' foreign positions, their funding sources, and international bank flows and concluded that policies that change cross-border banking frictions affect how shocks are transmitted across borders.
Economic growth, financial development, and institutions: a review of the literature
TL;DR: In this article, the effect of financial development on economic growth and the impact of institutions in interacting with financial development is studied. But, the effect might differ between countries because of unique institutional quality in terms of corruptions level, government bureaucracy, law and order, and risk of investment.
Journal ArticleDOI
Determinantes del acceso al crédito: Evidencia a nivel de la firma en Bolivia
TL;DR: In this paper, the authors investigate the determinants of access to credit for companies in Bolivia based on a sample of 4000 firms and find that the size and technological capability are the variables that most influence for a company to access funding markets due to its ability to generate competitive advantages, enabling them to gain market position and thereby ensure the creation of flows sustainable box; factors that will be taken by credit suppliers as the best guarantee for repayment.
References
More filters
Journal ArticleDOI
Finance and Growth: Schumpeter Might Be Right
TL;DR: In this paper, the authors examined a cross-section of about 80 countries for the period 1960-89 and found that various measures of financial development are strongly associated with both current and later rates of economic growth.
Journal ArticleDOI
Financial Intermediation and Delegated Monitoring
TL;DR: In this paper, the authors developed a theory of financial intermediation based on minimizing the cost of monitoring information which is useful for resolving incentive problems between borrowers and lenders, and presented a characterization of the costs of providing incentives for delegated monitoring by a financial intermediary.
Posted Content
International Data on Educational Attainment Updates and Implications
TL;DR: In this paper, the authors presented a data set that improves the measurement of educational attainment for a broad group of countries, and extended their previous estimates for the population over age 15 and over age 25 up to 1995 and provided projections for 2000.
BookDOI
Governance matters VII : aggregate and individual governance indicators 1996-2007
TL;DR: The 2009 update of the Worldwide Governance Indicators (WGI) research project, covering 212 countries and territories and measuring six dimensions of governance between 1996 and 2008: Voice and Accountability, Political Stability and Absence of Violence/Terrorism, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption as discussed by the authors.