IDEAS home Printed from https://ideas.repec.org/p/hal/cesptp/halshs-00009024.html
   My bibliography  Save this paper

La concurrence imparfaite entre les intermédiaires financiers est-elle toujours néfaste à la croissance économique ?

Author

Listed:
  • Jean-Bernard Chatelain

    () (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Bruno Amable

    () (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

Les performances économiques de l'Allemagne et du Japon laissent supposer qu'une faible concurrence entre les intermédiaires financiers n'est pas nécessairement un obstacle à la croissance. Cet article présente un modèle de croissance endogène ne comportant un secteur d'intermédiation financière en concurrence imparfaite. Une forte concentration du secteur bancaire implique un marge d'intermédiation financière importante. Elle exerce un effet négatif sur la croissance par une baisse de la rémunération de l'épargne et une hausse du coût du capital. Mais les désavantages de la concurrence imparfaite peuvent être plus que compensés par l'accroissement de la productivité des investissements des entreprises provenant de l'expertise et du contrôle exercés par des banques universelles.

Suggested Citation

  • Jean-Bernard Chatelain & Bruno Amable, 1996. "La concurrence imparfaite entre les intermédiaires financiers est-elle toujours néfaste à la croissance économique ?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00009024, HAL.
  • Handle: RePEc:hal:cesptp:halshs-00009024
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00009024v2
    as

    Download full text from publisher

    File URL: https://halshs.archives-ouvertes.fr/halshs-00009024v2/document
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    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. Mayer, Colin, 1988. "New issues in corporate finance," European Economic Review, Elsevier, vol. 32(5), pages 1167-1183, June.
    3. Robert G. King & Ross Levine, 1993. "Finance and Growth: Schumpeter Might Be Right," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 717-737.
    4. Levine, Ross & Renelt, David, 1992. "A Sensitivity Analysis of Cross-Country Growth Regressions," American Economic Review, American Economic Association, vol. 82(4), pages 942-963, September.
    5. Yafeh, Y. & Yosha, O., 1995. "The Strategic Use of Relationship Banking," Papers 38-95, Tel Aviv.
    6. Bruno Amable & Jean-Bernard Chatelain, 1995. "Efficacité des systèmes financiers et développement économique," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00825622, HAL.
    7. Jean-Claude Berthélemy & Aristomène Varoudakis, 1994. "Intermédiation financière et croissance endogène," Revue Économique, Programme National Persée, vol. 45(3), pages 737-750.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Igue, Charlemagne Babatoundé, 2013. "Intermédiation financière et croissance économique : une approche basée sur le concept d’efficacité-X appliquée à la zone UEMOA," L'Actualité Economique, Société Canadienne de Science Economique, vol. 89(1), pages 7-37, Mars.
    2. Nicholas Apergis & Christina Christou & Stephen Miller, 2012. "Convergence patterns in financial development: evidence from club convergence," Empirical Economics, Springer, vol. 43(3), pages 1011-1040, December.
    3. Thorvaldur Gylfason & Gylfi Zoega, 2006. "Natural Resources and Economic Growth: The Role of Investment," The World Economy, Wiley Blackwell, vol. 29(8), pages 1091-1115, August.
    4. Levine, Ross & Zervos, Sara, 1998. "Stock Markets, Banks, and Economic Growth," American Economic Review, American Economic Association, vol. 88(3), pages 537-558, June.
    5. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
    6. Sakiru Adebola Solarin & Yuen Yee Yen, 2016. "A global analysis of the impact of research output on economic growth," Scientometrics, Springer;Akadémiai Kiadó, vol. 108(2), pages 855-874, August.
    7. Jean-Claude Berthélemy & Aristomène Varoudakis, 1995. "Clubs de convergence et croissance. Le rôle du développement financier et du capital humain," Revue Économique, Programme National Persée, vol. 46(2), pages 217-235.
    8. Krüger Jens J. & Cantner Uwe & Hanusch Horst, 2003. "Explaining International Productivity Differences / Erklärung internationaler Produktivitätsunterschiede," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 223(6), pages 659-679, December.
    9. Kotaro Tsuru, 2000. "Finance and Growth: Some Theoretical Considerations and a Review of the Empirical Literature," OECD Economics Department Working Papers 228, OECD Publishing.
    10. Zaiter Lahimer, Mahjouba, 2011. "L’impact des entrées de capitaux privés sur la croissance économique dans les pays en développement," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/7670 edited by Sterdyniak, Henri, October.
    11. Kevin S. Nell & A.P. Thirlwall, 2017. "Perche' la produttivita' degli investimenti varia tra paesi? (Why does the productivity of investment vary across countries?)," Moneta e Credito, Economia civile, vol. 70(279), pages 197-231.
    12. A. Galetovic, 1996. "Finance and growth: a synthesis and interpretation of the evidence," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 49(196), pages 59-82.
    13. Carton, Christine & Ronquillo, Cely, 2008. "Determinantes del crecimiento económico e intermediación bancaria: un análisis empírico para países latinoamericanos [Determinants of economic growth and bank intermediation: empirical analysis for," MPRA Paper 15514, University Library of Munich, Germany, revised 25 Nov 2008.
    14. A. Galetovic, 1996. "Finance and growth: a synthesis and interpretation of the evidence," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 49(196), pages 59-82.
    15. Jith Jayaratne & Philip E. Strahan, 1995. "The finance-growth nexus: evidence from bank branch deregulation," Research Paper 9513, Federal Reserve Bank of New York.
    16. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Economic Convergence and Economic Policies," NBER Working Papers 5039, National Bureau of Economic Research, Inc.
    17. Dhaneshwar Ghura & E. Murat Ucer & Martin Mühleisen & Michael T. Hadjimichael & Roger Nord, 1994. "Effects of Macroeconomic Stabilityon Growth, Savings, and Investment in Sub-Saharan Africa; An Empirical Investigation," IMF Working Papers 1994/098, International Monetary Fund.
    18. Alan M. Taylor, 1995. "Growth and Convergence in the Asia-Pacific Region: On the Role of Openness, Trade and Migration," NBER Working Papers 5276, National Bureau of Economic Research, Inc.
    19. TRABELSI, Mohammed, 2002. "Finance and Growth : Empirical Evidence from Developing Countries, 1960-1990," Cahiers de recherche 2002-13, Universite de Montreal, Departement de sciences economiques.
    20. Ndikumana, Leonce, 2000. "Financial Determinants of Domestic Investment in Sub-Saharan Africa: Evidence from Panel Data," World Development, Elsevier, vol. 28(2), pages 381-400, February.

    Corrections

    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:hal:cesptp:halshs-00009024. 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: (CCSD). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    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.