05323oam 22012374 450 991080887800332120230828235717.01-4623-9620-81-4527-2591-81-283-51804-X1-4519-0977-29786613830494(CKB)3360000000443973(EBL)3014342(SSID)ssj0000940067(PQKBManifestationID)11518980(PQKBTitleCode)TC0000940067(PQKBWorkID)10947843(PQKB)10026151(OCoLC)698585544(MiAaPQ)EBC3014342(IMF)WPIEE2006264(EXLCZ)99336000000044397320020129d2006 uf 0engur|n|---|||||txtccrBanks As Coordinators of Economic Growth /Kenichi UedaWashington, D.C. :International Monetary Fund,2006.1 online resource (77 p.)IMF Working Papers"November 2006."1-4518-6524-4 ""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""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.IMF Working Papers; Working Paper ;No. 2006/264Economic developmentEconometric modelsBanks and bankingEconometric modelsBanks and BankingimfFinance: GeneralimfIndustries: Financial ServicesimfNoncooperative GamesimfExchange and Production EconomiesimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfEconomic Development: Financial MarketsimfSaving and Capital InvestmentimfCorporate Finance and GovernanceimfOne, Two, and Multisector Growth ModelsimfGeneral Financial Markets: General (includes Measurement and Data)imfInterest Rates: Determination, Term Structure, and EffectsimfBankingimfFinanceimfLoansimfInterbank marketsimfDeposit ratesimfBank depositsimfFinancial institutionsimfFinancial marketsimfFinancial servicesimfCompetitionimfBanks and bankingimfInternational financeimfInterest ratesimfUnited StatesimfEconomic developmentEconometric models.Banks and bankingEconometric models.Banks and BankingFinance: GeneralIndustries: Financial ServicesNoncooperative GamesExchange and Production EconomiesBanksDepository InstitutionsMicro Finance InstitutionsMortgagesEconomic Development: Financial MarketsSaving and Capital InvestmentCorporate Finance and GovernanceOne, Two, and Multisector Growth ModelsGeneral Financial Markets: General (includes Measurement and Data)Interest Rates: Determination, Term Structure, and EffectsBankingFinanceLoansInterbank marketsDeposit ratesBank depositsFinancial institutionsFinancial marketsFinancial servicesCompetitionBanks and bankingInternational financeInterest ratesUeda Kenichi1610668DcWaIMFBOOK9910808878003321Banks As Coordinators of Economic Growth3986743UNINA