IDEAS home Printed from
   My bibliography  Save this article

Crecimiento con cambio tecnológico endógeno, bancos y dinero, El caso de una economía con firmas innovadoras


  • Ramón Tirado Jiménez

    (Universidad Autónoma Metropolitana)


The aim of this paper is to expose and analyze a model of growth with endogenous technological change in an economy with banks and money. In growth theory, there are not analyses drawing on the above lines. In this paper we provide some central results, relating the non-superneutrality of money with banking activity and its effects over the rate of growth that an innovative economy can to reach. We show the cases of a risk neutral and a risk averse bank, and we conclude, by one hand, that the banking behavior plays a significative role on the long run rate of growth, because the agent is managing the individual savings, by the other hand, we describe that, actually, the monetary policy have influence on the long run development of the economy through the banking system.

Suggested Citation

  • Ramón Tirado Jiménez, 2000. "Crecimiento con cambio tecnológico endógeno, bancos y dinero, El caso de una economía con firmas innovadoras," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 15(1), pages 91-116.
  • Handle: RePEc:emx:esteco:v:15:y:2000:i:1:p:91-116

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Valerie R. Bencivenga & Bruce D. Smith, 1991. "Financial Intermediation and Endogenous Growth," Review of Economic Studies, Oxford University Press, vol. 58(2), pages 195-209.
    3. Shouyong Shi, 1996. "Asymmetric Information, Credit Rationing, and Economic Growth," Canadian Journal of Economics, Canadian Economics Association, vol. 29(3), pages 665-687, August.
    4. Greenwood, Jeremy & Smith, Bruce D., 1997. "Financial markets in development, and the development of financial markets," Journal of Economic Dynamics and Control, Elsevier, vol. 21(1), pages 145-181, January.
    5. Geweke, John F, 1986. "The Superneutrality of Money in the United States: An Interpretation of the Evidence," Econometrica, Econometric Society, vol. 54(1), pages 1-21, January.
    6. Miguel Sidrauski, 1967. "Inflation and Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 75, pages 796-796.
    7. Orphanides, Athanasios & Solow, Robert M., 1990. "Money, inflation and growth," Handbook of Monetary Economics,in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 1, chapter 6, pages 223-261 Elsevier.
    8. N. Gregory Mankiw, 1986. "The Allocation of Credit and Financial Collapse," The Quarterly Journal of Economics, Oxford University Press, vol. 101(3), pages 455-470.
    9. Ireland, Peter N, 1994. "Money and Growth: An Alternative Approach," American Economic Review, American Economic Association, vol. 84(1), pages 47-65, March.
    10. Brock, William A, 1974. "Money and Growth: The Case of Long Run Perfect Foresight," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 15(3), pages 750-777, October.
    11. Stein, Jerome L, 1970. "Monetary Growth Theory in Perspective," American Economic Review, American Economic Association, vol. 60(1), pages 85-106, March.
    12. Paul M. Romer, 1994. "The Origins of Endogenous Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 3-22, Winter.
    13. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:emx:esteco:v:15:y:2000:i:1:p:91-116. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rocío Contreras). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.