Hidden Bibliographic Details
| Other authors / contributors: | Ueda, Kenichi, 1968-
International Monetary Fund. Research Department.
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| ISBN: | 1282035363
9781282035362
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| Notes: | Includes bibliographical references (pages 45-48).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | We study models that display growth with financial deepening and increasing inequality along the way to perpetual steady state growth. A benchmark model is essentially a complete markets model but with transaction costs of financial intermediation. New proofs are required and thus provided for stochastic dynamic programming for the case of unbounded return functions and perpetual growth with a non-convex transaction technology. We calibrate the model and report quantitative predictions for Thailand during 1976-96. We find a discrepancy between the model and the data, suspect barriers to financial deepening as a cause, and evaluate the associated welfare loss.
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| Other form: | Print version: Townsend, Robert M., 1948- Transitional growth with increasing inequality and financial deepening. [Washington, D.C.] : International Monetary Fund, Research Dept., ©2001
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