Financial Deepening, Inequality, and Growth: A Model-Based Quantitative Evaluation

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Financial Deepening, Inequality, and Growth: A Model-Based Quantitative Evaluation

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Robert M. Townsend
Kenichi Ueda

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Abstract

We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how to conduct model-based quantitative research on transitional paths. With analytical and numerical methods, we calibrate and make tractable a prototype canonical model and take it to an application, namely, Thailand 1976-1996, an emerging economy in a phase of economic expansion with uneven financial deepening and increasing inequality. We broadly replicate the actual data, test the model formally, and identify anomalies.

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Paper provided by International Monetary Fund in its series IMF Working Papers with number 03/193.

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Length: 64 pages
Date of creation: 31 Oct 2003
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Handle: RePEc:imf:imfwpa:03/193

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Full 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.)

Demirguc-Kunt, Asli & Levine, Ross, 2009. "Finance and inequality : theory and evidence," Policy Research Working Paper Series 4967, The World Bank. [Downloadable!]
Other versions:
- Asli Demirguc-Kunt & Ross Levine, 2009. "Finance and Inequality: Theory and Evidence," NBER Working Papers 15275, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)

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