Financial Intermediary Development and Growth Volatility : Do Intermediaries Dampen or Magnify Shocks?

Financial Intermediary Development and Growth Volatility : Do Intermediaries Dampen or Magnify Shocks?

The authors extend the recent literature on the link between financial development and economic volatility by focusing on the channels through which the development of financial intermediaries affects economic volatility. Their theoretical model pr...

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Bibliographic Details
Main Authors: Beck, Thorsten, Lundberg, Mattias, Majnoni, Giovanni
Format: Policy Research Working Paper
Language:English
en_US
Published: World Bank, Washington, DC 2014
Subjects:
ACCELERATOR
ACCELERATOR EFFECT
ASYMMETRIC INFORMATION
BALANCE SHEETS
BANK LENDING
BANKS
BONDS
CAPITAL MARKETS
CONSUMERS
CORPORATE CONTROL
CREDIT RATIONING
DEMAND CURVE
DEPOSITS
DEVELOPED COUNTRIES
ECONOMETRIC ANALYSIS
ECONOMETRICS
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
EMPIRICAL ANALYSIS
EQUILIBRIUM
EXPORTS
EXTERNAL FINANCE
FINANCIAL INTERMEDIARIES
FINANCIAL INTERMEDIARY DEVELOPMENT
FINANCIAL INTERMEDIATION
FINANCIAL MARKETS
FINANCIAL SECTOR
FINANCIAL SECTOR DEVELOPMENT
FUNCTIONAL FORMS
GDP
GDP PER CAPITA
GROWTH RATE
IMPORTS
INCOME
INCOME COUNTRIES
INCOME GROUPS
INFLATION
INFLATION RATE
INPUT PRICES
INSTITUTIONAL ENVIRONMENT
INTEREST RATE
INTEREST RATES
M2
MARGINAL PRODUCTIVITY
MONETARY POLICIES
MONETARY POLICY
MORAL HAZARD
NET WORTH
OPEN ECONOMIES
OPTIMIZATION
OUTPUT
OVERLAPPING GENERATIONS MODEL
PER CAPITA INCOME
POLICY DECISIONS
POLICY MAKERS
PREDICTIONS
PRODUCTION FUNCTION
PRODUCTION TECHNOLOGY
PRODUCTIVITY
PROFIT MAXIMIZATION
PROFITABILITY
REAL GDP
RESERVE REQUIREMENTS
RETURNS TO SCALE
SAVINGS
SUPPLY CURVE
TERMS OF TRADE
TRADE SHOCKS
VOLATILITY
WEALTH FINANCIAL INTERMEDIATION
ECONOMIC SHOCKS
LOW-INCOME ECONOMIES
MIDDLE-INCOME ECONOMIES
Online Access:http://documents.worldbank.org/curated/en/2001/11/1631799/financial-intermediary-development-growth-volatility-intermediaries-dampen-or-magnify-shocks
http://hdl.handle.net/10986/19440

Internet

http://documents.worldbank.org/curated/en/2001/11/1631799/financial-intermediary-development-growth-volatility-intermediaries-dampen-or-magnify-shocks
http://hdl.handle.net/10986/19440

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