The Role Of The Financial System In The Growth Inflation Link
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The Role Of The Financial System In The Growth Inflation Link
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Author : Javier Andrés
language : en
Publisher:
Release Date : 1999
The Role Of The Financial System In The Growth Inflation Link written by Javier Andrés and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Financial institutions categories.
Estimates the effects of financial development and inflation on growth.
Financial Development And Economic Growth
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Author : C. Goodhart
language : en
Publisher: Springer
Release Date : 2004-06-13
Financial Development And Economic Growth written by C. Goodhart and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-06-13 with Business & Economics categories.
The most successful economies have the best working financial markets. While causation obviously runs in both directions, current research has increasingly emphasized the role of finance in promoting growth. Here seven leading financial economists explore the links between financial development and growth. The book seeks to answer the question of the role of finance in promoting sustainable growth and in the reduction of poverty, for example via micro-financial institutions.
Creating An Efficient Financial System
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Author : Thorsten Beck
language : en
Publisher: World Bank Publications
Release Date : 2006
Creating An Efficient Financial System written by Thorsten Beck and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Capital market categories.
Financial sector development fosters economic growth and reduces poverty by widening and broadening access to finance and allocating society's savings more efficiently. The author first discusses three pillars on which sound and efficient financial systems are built: macroeconomic stability and effective and reliable contractual and informational frameworks. He then describes three different approaches to government involvement in the financial sector: the laissez-faire view, the market-failure view and the market-enabling view. Finally, the author analyzes the sequencing of financial sector reforms and discusses the benefits and challenges that emerging markets face when opening their financial systems to international capital markets.
A Growth Model Of Inflation Tax Evasion And Financial Repression
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Author : Nouriel Roubini
language : en
Publisher:
Release Date : 1992
A Growth Model Of Inflation Tax Evasion And Financial Repression written by Nouriel Roubini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Economic development categories.
In this paper we study the effects of policies of financial repression on long term growth and try to explain why optimizing governments might want to repress the financial sector. We also explain why inflation may be negatively related to growth, even though it does not affect growth directly. We argue that the main reason why governments repress the financial sector is that this sector is the source of "easy" resources for the public budget The source of revenue stemming from this intervention is modeled through the inflation tax. Our model has the implication that financial development reduces money demand. Hence, if the government allows for financial development the inflation tax base, and the chance to collect seigniorage, is reduced. To the extent that the financial sector increases the efficiency of the allocation of savings to productive investment, the choice of the degree of financial development will have real effects on the saving and investment rate and on the growth rate of the economy. We show that in countries where tax evasion is large the government will optimally choose to repress the financial sector in order to increase seigniorage taxation. This policy will then reduce the efficiency of the financial sector, increase the costs of intermediation, reduce the amount of investment and reduce the steady state rate of growth of the economy. Financial repression will therefore be associated with high tax evasion, low growth and high inflation.
Inflation Growth And Central Banks
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Author : Jose De Gregorio
language : en
Publisher:
Release Date : 1996
Inflation Growth And Central Banks written by Jose De Gregorio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Bancos centrales categories.
Inflation Growth And Credit Services
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Author : Max Gillman
language : en
Publisher:
Release Date : 2010
Inflation Growth And Credit Services written by Max Gillman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
The empirical evidence suggests that there is a significant, negative relationship between inflation and economic growth. Conventional monetary growth models, however, predict a significantly smaller growth effect. This paper proposes a monetary growth model with an explicit credit service sector to explain the observed magnitude. Since credit services are assumed costly to produce, the consumers equate the opportunity cost of holding money with the marginal cost of credit. Therefore the technology of the financial sector influences the velocity of money, and consequently, how inflation affects leisure, the time spent accumulating human capital, and the growth rate of output. The calibration shows that the model generates an inflation-growth effect whose magnitude falls in the range found by the empirical studies. Moreover, in contrast to previous works, we are also able to explain an inflation-growth effect that becomes increasingly weak as the inflation rate rises, as the evidence seems to suggest. Analysis of the welfare cost of inflation further illuminates the inflation-growth effect and how the model compares to the literature.
The Great Inflation
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Author : Michael D. Bordo
language : en
Publisher: University of Chicago Press
Release Date : 2013-06-28
The Great Inflation written by Michael D. Bordo and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-28 with Business & Economics categories.
Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Monetary Policy And Taiwan S Economy
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Author : Gerald P. Dwyer
language : en
Publisher: Edward Elgar Publishing
Release Date : 2002
Monetary Policy And Taiwan S Economy written by Gerald P. Dwyer and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
Monetary Policy and Taiwan's Economy questions whether the Asian crisis could have been avoided through the application of recommendations highlighted by the contributors. The conclusion reached is that in an abstract world, perhaps; but in the world in which we live; no. It is argued that the proposals made could certainly contribute to improved policy, albeit effecting marginal improvements rather than ground breaking changes. The contributors demonstrate that proficient monetary policy and banking regulation can be achieved through sound economic analysis that takes into account: monetary aggregates in monetary policy the role of exchange rate policies in the Asian crisis the relationship between the exchange rate, capital flows and central bank intervention similarities between the restructuring of banking systems in Asia and in Eastern Europe following the fall of communism. This book will appeal to academics and researchers of macroeconomics - especially those with a particular interest in monetary theory and policy. Economic analysts, commercial banks, financial institutions and specialists in financial crisis will also find the book to be a fascinating read.
Singapore
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2019-07-15
Singapore written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-15 with Business & Economics categories.
This Financial System Stability Assessment paper on Singapore highlights the attractiveness of Singapore as a financial center is underpinned by strong economic fundamentals, sound economic policies, and a sophisticated financial oversight framework. The financial system is exposed to global and regional macrofinancial shocks through significant trade and financial channels but appears resilient even under adverse scenarios. However, banks’ US dollar liquidity is vulnerable to stress conditions. Fintech developments so far have focused on partnerships with existing financial institutions and do not appear to contribute significantly to systemic risk. Singapore authorities should continue to enhance its strong oversight of the financial system. Strengthening the framework for resolution and safety nets, namely by devoting more resources to the Monetary Authority of Singapore (MAS)’ Resolution Unit; and enhancing the oversight of MAS Electronic Payments System by ensuring more staffing resources are two other important areas for action.
Finance And Growth
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Author : Asli Demirgüç-Kunt
language : en
Publisher:
Release Date : 2018-07-27
Finance And Growth written by Asli Demirgüç-Kunt and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-27 with Economic development categories.
This two-volume collection brings together major contributions to the study of finance and growth. It includes conceptual and empirical papers that use a range of methodologies to discover the connections between financial systems - including financial contracts, markets, and intermediaries - and the functioning of the economy - including economic growth, entrepreneurship, technological innovation, poverty alleviation, the distribution of income, and the structure and volatility of economies. It also discusses contributions to the study of the legal, political, institutional, social capital and policy determinants of financial development. With an original introduction by the editors, this collection is an important resource for students, academics and practitioners.