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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19511Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.creator | Fecht, Falko | - |
| dc.creator | Huang, Kevin | - |
| dc.creator | Martin, Antoine | - |
| dc.date | 2005 | - |
| dc.date.accessioned | 2013-10-16T07:05:22Z | - |
| dc.date.available | 2013-10-16T07:05:22Z | - |
| dc.date.issued | 2013-10-16 | - |
| dc.identifier | http://hdl.handle.net/10419/19511 | - |
| dc.identifier | ppn:483236489 | - |
| dc.identifier | RePEc:zbw:bubdp1:2937 | - |
| dc.identifier.uri | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19511 | - |
| dc.description | We build a model in which financial intermediaries provide insurance to households against a liquidity shock. Households can also invest directly on a financial market if they pay a cost. In equilibrium, the ability of intermediaries to share risk is constrained by the market. This can be beneficial because intermediaries invest less in the productive technology when they provide more risk-sharing. Our model predicts that bank-oriented economies should grow slower than more market-oriented economies, which is consistent with some recent empirical evidence. We show that the mix of intermediaries and market that maximizes welfare under a given level of financial development depends on economic fundamentals. We also show the optimal mix of two structurally very similar economies can be very different. | - |
| dc.language | eng | - |
| dc.relation | Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2005,03 | - |
| dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | - |
| dc.subject | E44 | - |
| dc.subject | G20 | - |
| dc.subject | G10 | - |
| dc.subject | ddc:330 | - |
| dc.subject | Financial Intermediaries | - |
| dc.subject | Risk Sharing | - |
| dc.subject | Finance and Growth | - |
| dc.subject | Comparing Financial Systems | - |
| dc.subject | Finanzintermediär | - |
| dc.subject | Finanzmarkt | - |
| dc.subject | Investition | - |
| dc.subject | Allokation | - |
| dc.subject | Wirtschaftswachstum | - |
| dc.subject | Overlapping Generations | - |
| dc.title | Financial intermediaries, markets and growth | - |
| dc.type | doc-type:workingPaper | - |
| Appears in Collections: | EconStor | |
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