Financial Structure, Inequalities, and Growth
AbstractThe model analyses the joint process of growth and financial institutions development. There are two markets for credit: the informal credit market, and banks. The informal credit market has an advantage in temr of monitoring capacity but becomes extremely costly for large scale projects. Banks cannot monitor entrepreneurs perfectly, hence the ;atter need to provide a collateral; but they can gather a large amounts of capital at a relatively low cost.
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Bibliographic InfoPaper provided by DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 1999-02.
Length: 36 pages
Date of creation: 1999
Date of revision:
MORAL HAZARD ; BANKS ; INCOME DISTRIBUTION;
Find related papers by JEL classification:
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
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