Banks as coordinators of economic growth /

Banks as coordinators of economic growth /

Saved in:

Bibliographic Details
Author / Creator:	Ueda, Kenichi, 1968- author.
Imprint:	[Washington, D.C.] : International Monetary Fund, 2006.
Description:	1 online resource (75 pages) : illustrations
Language:	English
Series:	IMF working paper, 2227-8885 ; WP/06/264 IMF working paper ; WP/06/264.
Subject:	Economic development -- Econometric models. Banks and banking -- Econometric models. Banks and banking -- Econometric models. Economic development -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12498768

Hidden Bibliographic Details
ISBN:	128351804X 9781283518048 9781451909777 1451909772 1462396208 9781462396207 1452725918 9781452725918 9786613830494 6613830496
Digital file characteristics:	data file
Notes:	Includes bibliographical references (pages 38-40). 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 English. digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
Summary:	This paper formally identifies an important role of banks: Banks competitively internalize production externalities and facilitate economic growth. I formulate a canonical growth model with externalities as a game among consumers, firms, and banks. Banks compete for deposits to seek monopoly profits, including externalities. Using loan contracts that specify price and quantity, banks control firms' investments. Each bank forms a firm group endogenously and internalizes externalities directly within a firm group and indirectly across firm groups. This unique equilibrium requires a condition that separates competition for sources and uses of funds. I present a realistic institution that satisfies this condition.
Other form:	Print version: Ueda, Kenichi, 1968- Banks as coordinators of economic growth. [Washington, D.C.] : International Monetary Fund, ©2006
Standard no.:	10.5089/9781451909777.001

Description
Summary:	This paper formally identifies an important role of banks: Banks competitively internalize production externalities and facilitate economic growth. I formulate a canonical growth model with externalities as a game among consumers, firms, and banks. Banks compete for deposits to seek monopoly profits, including externalities. Using loan contracts that specify price and quantity, banks control firms' investments. Each bank forms a firm group endogenously and internalizes externalities directly within a firm group and indirectly across firm groups. This unique equilibrium requires a condition that separates competition for sources and uses of funds. I present a realistic institution that satisfies this condition.
Physical Description:	1 online resource (75 pages) : illustrations
Format:	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.
Bibliography:	Includes bibliographical references (pages 38-40).
ISBN:	128351804X 9781283518048 9781451909777 1451909772 1462396208 9781462396207 1452725918 9781452725918 9786613830494 6613830496
ISSN:	2227-8885 ;