Essays on Financial Market Development and Economic Growth

Files

aFIRST.PDF (49.02 KB)
Downloads: 111

ch1.pdf (123.98 KB)
Downloads: 96

ch2.pdf (144.77 KB)
Downloads: 110

ch3.pdf (85.44 KB)
Downloads: 132

dLAST.pdf (44.62 KB)
Downloads: 43

TR Number

Date

1998-04-28

Journal Title

Journal ISSN

Volume Title

Publisher

Virginia Tech

Abstract

This dissertation is a collection of essays on financial market development and economic growth. In contrast to existing literature, which considers credit for investment along, we investigate the relationship between credit market development and economic growth in the framework where both investment and consumption are financed via credit markets. The environment developed on this dissertation creates a role for each kind of credit to play. First, credit market conditions of entrepreneurs and consumers are related and depend on each other. Second, the interactions between consumers and entrepreneurs are of importance for economic growth. The models are empirically relevant, as they can explain why the effect of credit market development on economic growth appears to differ between high-income and middle- and low-income countries.

Description

Keywords

Asymmetric Information, Growth, Credit Markets, Credit Rationing, Screening.

Citation