FINANCIAL INTERMEDIATION AND ENDOGENOUS GROWTH

被引：785

作者：

BENCIVENGA, VR ^{[1
]}

SMITH, BD ^{[1
]}

机构：

[1] ROCHESTER CTR ECON RES,ROCHESTER,NY

来源：

REVIEW OF ECONOMIC STUDIES | 1991年 / 58卷 / 02期

关键词：

D O I：

10.2307/2297964

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

An endogenous growth model with multiple assets is developed. Agents who face random future liquidity needs accumulate capital and a liquid, but unproductive asset. The effects of introducing financial intermediation into this environment are considered. Conditions are provided under which the introduction of intermediaries shifts the composition of savings toward capital, causing intermediation to be growth promoting. In addition, intermediaries generally reduce socially unnecessary capital liquidation, again tending to promote growth. © 1991 The Review of Economic Studies Limited.

引用

页码：195 / 209

页数：15

共 32 条

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