Banks, Growth And Geography

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Banks, Growth And Geography

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Raju Jan SINGH

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Raju Jan Singh

Abstract

This paper presents a general equilibrium endogenous growth model, in which financial intermediaries evaluate the quality of projects, mobilize savings to finance the most promising ones and diversify risk. Information technology available to banks is linked to geographic proximity. This evaluation capacity increases the proportion of high-return projects being financed, and thereby accelerates economic growth. This positive effect does not depend on the degree of individuals´ risk aversion.

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Paper provided by United Nations Conference on Trade and Development in its series UNCTAD Discussion Papers with number 127.

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Date of creation: 1997
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Handle: RePEc:unc:dispap:127

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This paper has been announced in the following NEP Reports:

NEP-ALL-2004-09-05 (All new papers)
NEP-MFD-2004-09-05 (Microfinance)

References listed on IDEAS
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Other versions:
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Other versions:
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- Bencivenga, V.R. & Smith, B.D., 1988. "Financial Intermediation And Endogenous Growth," RCER Working Papers 124, University of Rochester - Center for Economic Research (RCER).
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Other versions:
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