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Pénzügyi fejlődés, infláció és a gazdasági növekedés. Három dinamikus optimalizálási modell
[Financial development, inflation and economic growth. Three dynamic optimization models]

Author

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  • Valentinyi, Ákos

Abstract

A tanulmány a pénzügyi fejlődés, az infláció és a gazdasági növekedés összefüggéseit elemzi egy endogén növekedési modellben. A modell a pénzügyi szektort olyan szektorként értelmezi, amely mind a pénzkeresletre, mind a tőke termelékenységére befolyást gyakorol. Az elemzés megmutatja, hogy a pénzügyi liberalizálásnak pozitív hatása van a gazdasági növekedésre, de ennek mértéke függ a liberalizálás előtti reálkamatlábtól és az infláció ütemétől. Ezenkívül, a modell egyik változata szerint az inflációnak erős negatív hatása van a növekedésre. Ez az eredmény eltér az eddigi endogén növekedési modellekétől, amelyek szerint az inflációnak csak minimális hatása van a növekedésre, viszont konzisztens az empirikus elemzésekkel.

Suggested Citation

  • Valentinyi, Ákos, 1995. "Pénzügyi fejlődés, infláció és a gazdasági növekedés. Három dinamikus optimalizálási modell [Financial development, inflation and economic growth. Three dynamic optimization models]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 838-859.
    • Handle: RePEc:ksa:szemle:46
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • O42 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Monetary Growth Models
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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