05542oam 22013334 450 991095586700332120250426110442.0978661383049497814623962071462396208978145272591814527259189781283518048128351804X97814519097771451909772(CKB)3360000000443973(EBL)3014342(SSID)ssj0000940067(PQKBManifestationID)11518980(PQKBTitleCode)TC0000940067(PQKBWorkID)10947843(PQKB)10026151(OCoLC)698585544(MiAaPQ)EBC3014342(IMF)WPIEE2006264(IMF)WPIEA2006264WPIEA2006264(EXLCZ)99336000000044397320020129d2006 uf 0engur|n|---|||||txtccrBanks As Coordinators of Economic Growth /Kenichi Ueda1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (77 p.)IMF Working Papers"November 2006."9781451865240 1451865244 ""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 modelsBank depositsimfBankingimfBanks and BankingimfBanks and bankingimfBanksimfCompetitionimfCorporate Finance and GovernanceimfDeposit ratesimfDepository InstitutionsimfEconomic Development: Financial MarketsimfExchange and Production EconomiesimfFinanceimfFinance: GeneralimfFinancial institutionsimfFinancial marketsimfFinancial servicesimfGeneral Financial Markets: General (includes Measurement and Data)imfIndustries: Financial ServicesimfInterbank marketsimfInterest ratesimfInterest Rates: Determination, Term Structure, and EffectsimfInternational financeimfLoansimfMicro Finance InstitutionsimfMortgagesimfNoncooperative GamesimfOne, Two, and Multisector Growth ModelsimfSaving and Capital InvestmentimfUnited StatesimfEconomic developmentEconometric models.Banks and bankingEconometric models.Bank depositsBankingBanks and BankingBanks and bankingBanksCompetitionCorporate Finance and GovernanceDeposit ratesDepository InstitutionsEconomic Development: Financial MarketsExchange and Production EconomiesFinanceFinance: GeneralFinancial institutionsFinancial marketsFinancial servicesGeneral Financial Markets: General (includes Measurement and Data)Industries: Financial ServicesInterbank marketsInterest ratesInterest Rates: Determination, Term Structure, and EffectsInternational financeLoansMicro Finance InstitutionsMortgagesNoncooperative GamesOne, Two, and Multisector Growth ModelsSaving and Capital InvestmentUeda Kenichi1815625DcWaIMFBOOK9910955867003321Banks As Coordinators of Economic Growth4371317UNINA