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Record Nr. |
UNINA9910808878003321 |
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Autore |
Ueda Kenichi |
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Titolo |
Banks As Coordinators of Economic Growth / / Kenichi Ueda |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-9620-8 |
1-4527-2591-8 |
1-283-51804-X |
1-4519-0977-2 |
9786613830494 |
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Descrizione fisica |
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1 online resource (77 p.) |
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Collana |
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Soggetti |
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Economic development - Econometric models |
Banks and banking - Econometric models |
Banks and Banking |
Finance: General |
Industries: Financial Services |
Noncooperative Games |
Exchange and Production Economies |
Banks |
Depository Institutions |
Micro Finance Institutions |
Mortgages |
Economic Development: Financial Markets |
Saving and Capital Investment |
Corporate Finance and Governance |
One, Two, and Multisector Growth Models |
General Financial Markets: General (includes Measurement and Data) |
Interest Rates: Determination, Term Structure, and Effects |
Banking |
Finance |
Loans |
Interbank markets |
Deposit rates |
Bank deposits |
Financial institutions |
Financial markets |
Financial services |
Competition |
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Banks and banking |
International finance |
Interest rates |
United States |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. MODEL SETTING AND CHARACTERISTICS""; ""III. UNIQUE EQUILIBRIUM CANDIDATE WITH STRATEGIC INTERMEDIATION""; ""IV. EXISTENCE OF AN EQUILIBRIUM WITH FREE RECONTRACTING OPPORTUNITY""; ""V. DISCUSSION""; ""VI. CONCLUDING REMARKS""; ""REFERENCES""; ""APPENDIX I. PROOFS""; ""APPENDIX II. EXISTENCE OF AN OPTIMAL PLAN""; ""APPENDIX III. PARETO- OPTIMAL ALLOCATION AND WALRASIAN EQUILIBRIUM""; ""APPENDIX IV. ALLOCATIONS UNDER OTHER PRODUCTION FUNCTIONS""; ""APPENDIX V. ECONOMY WITH PRIVATE DIRECT FINANCE"" |
""APPENDIX VI. RELATION TO DISCONTINUOUS GAME LITERATURE"" |
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Sommario/riassunto |
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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. |
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