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Agrarian Structure and Endogenous Financial System Development

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Author Info
Dietz Vollrath () (Department of Economics, University of Houston)

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Abstract

The development of the financial system is shown, both historically and in contemporary data, to be adversely affected by inequality in the distribution of land. To accommodate these empirical findings, a theory is developed that highlights the incentives of landowners to oppose competition in the financial sector. The theory provides an explanation for the co-incident development of the financial sector and overall economy.

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File URL: http://www.uh.edu/econpapers/RePEc/hou/wpaper/2008-02.pdf
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Publisher Info
Paper provided by Department of Economics, University of Houston in its series Working Papers with number 2008-02.

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Length: 41 pages
Date of creation: Dec 2008
Date of revision:
Handle: RePEc:hou:wpaper:2008-02

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Postal: Houston TX 77023
Web page: http://www.uh.edu/academics/sos/econ/
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Related research
Keywords: Land distribution; financial development; overlapping generations; financial institutions;

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Find related papers by JEL classification:
E25 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
N2 - Economic History - - Financial Markets and Institutions
O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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