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Financial Structure, Inequalities, and Growth

Author

Listed:
  • Tressel,T.

Abstract

The model analyses the joint process of growth and financial institutions development. There are two markets for credit: the informal credit market, and banks. The informal credit market has an advantage in temr of monitoring capacity but becomes extremely costly for large scale projects. Banks cannot monitor entrepreneurs perfectly, hence the ;atter need to provide a collateral; but they can gather a large amounts of capital at a relatively low cost.

Suggested Citation

  • Tressel,T., 1999. "Financial Structure, Inequalities, and Growth," DELTA Working Papers 1999-02, DELTA (Ecole normale supérieure).
    • Handle: RePEc:del:abcdef:1999-02
    as

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    More about this item

    Keywords

    MORAL HAZARD ; BANKS ; INCOME DISTRIBUTION;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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