Why Low Inequality Spurs Growth: Savings and Investment by the Poor
This paper discusses the ways in which macroeconomic developments can put stress on banks, and in extreme cases lead to banking crises. There are many ways in which this can occur, and no specific mechanism is endorsed. These macroeconomic causes of bank vulnerability and crisis have important implications for regulatory regimes, and for macroeconomic policy itself. Much of the discussion emphasizes the need to set monetary policy with an eye on the state of the domestic banking system.
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- Bhalla, Surjit S., 1978. "The role of sources of income and investment opportunities in rural savings," Journal of Development Economics, Elsevier, vol. 5(3), pages 259-281, September.
- Clarke, George R. G., 1995.
"More evidence on income distribution and growth,"
Journal of Development Economics,
Elsevier, vol. 47(2), pages 403-427, August.
- Paxson, Christina H, 1992. "Using Weather Variability to Estimate the Response of Savings to Transitory Income in Thailand," American Economic Review, American Economic Association, vol. 82(1), pages 15-33, March.
- Jacoby, Hanan G, 1994. "Borrowing Constraints and Progress through School: Evidence from Peru," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 151-60, February.
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