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Dynamic Effects Of Trade In Financial Services Author info | Abstract | Publisher info | Download info | Related research | Statistics JOSEPH F. FRANCOIS
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An overlapping generations model is used to examine the dynamic implications of trade in financial services. The model highlights the role of finance, through capital accumulation, in the growth process. Emphasis is placed on the dynamic relationship between financial intermediation and the evolution of the capital stock. This relationship has positive implications for the paths of income and consumption and for the inter-generational distribution of income. The results provide formal support for the argument that liberalizing trade in financial services implies dynamic effects grounded in the basic sources of comparative advantage. [F11, F43]
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Article provided by Korean International Economic Association in its journal International Economic Journal .
Volume (Year): 9 (1995)
Issue (Month): 3 (October)
Pages: 1-14
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Handle: RePEc:taf:intecj:v:9:y:1995:i:3:p:1-14Contact details of provider: Web page: http://taylorandfrancis.metapress.com/link.asp?id=110801
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Keywords: References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
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Panagariya, Arvind, 1988.
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Bencivenga, Valerie R & Smith, Bruce D, 1991.
"Financial Intermediation and Endogenous Growth ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 58(2), pages 195-209, April.
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Other versions: King, Robert G & Levine, Ross, 1993.
"Finance and Growth: Schumpeter Might Be Right ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 108(3), pages 717-37, August.
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Other versions:
King, Robert G. & Levine, Ross, 1993.
"Finance and growth : Schumpeter might be right ,"
Policy Research Working Paper Series
1083, The World Bank.
[Downloadable!] King, Robert G. & Levine, Ross, 1993.
"Finance and growth : Schumpeter might be right ,"
Policy Research Working Paper Series
1083, The World Bank.
[Downloadable!] Greenwood, J. & Jovanovic, B., 1990.
"Financial Development, Growth, And The Distribution Of Income ,"
University of Western Ontario, The Centre for the Study of International Economic Relations Working Papers
9002, University of Western Ontario, The Centre for the Study of International Economic Relations.
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Greenwood, J. & Jovanovic, B., 1988.
"Financial Development, Growth, And The Distribution Of Income ,"
RCER Working Papers
131, University of Rochester - Center for Economic Research (RCER).
Jeremy Greenwood & Boyan Jovanovic, 1989.
"Financial Development, Growth, and the Distribution of Income ,"
NBER Working Papers
3189, National Bureau of Economic Research, Inc.
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"Financial Development, Growth, And The Distribution Of Income ,"
Working Papers
88-12, C.V. Starr Center for Applied Economics, New York University.
[Downloadable!] Greenwood, Jeremy & Jovanovic, Boyan, 1990.
"Financial Development, Growth, and the Distribution of Income ,"
Journal of Political Economy ,
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[Downloadable!] (restricted) Hayne E. Leland and David H. Pyle., 1976.
"Informational Asymmetries, Financial Structure, and Financial Intermediation ,"
Research Program in Finance Working Papers
41, University of California at Berkeley.
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Leland, Hayne E & Pyle, David H, 1977.
"Informational Asymmetries, Financial Structure, and Financial Intermediation ,"
Journal of Finance ,
American Finance Association, vol. 32(2), pages 371-87, May.
[Downloadable!] (restricted) Joseph F. Francois, 1990.
"Trade in Producer Services and Returns Due to Specialization under Monopolistic Competition ,"
Canadian Journal of Economics ,
Canadian Economics Association, vol. 23(1), pages 109-24, February.
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Francois, Joseph & Schuknecht, Ludger, 1999.
"Trade in Financial Services: Procompetitive Effects and Growth Performance ,"
CEPR Discussion Papers
2144, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
Other versions: Richard E. Baldwin & Elena Seghezza, 1996.
"Trade-Induced Investment-led Growth ,"
NBER Working Papers
5582, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Raff, Horst & von der Ruhr, Marc, 2001.
"Foreign Direct Investment in Producer Services: Theory and Empirical Evidence ,"
CESifo Working Paper Series
CESifo Working Paper No. , CESifo Group Munich.
[Downloadable!]
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