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Article Dans Une Revue Journal of Development Economics Année : 2001

Can financial infrastructures foster economic development?

Bruno Amable

Résumé

In this paper, financial infrastructures increase the efficiency of the banking sector: they decrease the market power (due to horizontal differentiation) of the financial intermediaries, lower the cost of capital, increase the number of depositors and the amount of intermediated savings, factors which in turn increase the growth rate and may help countries to take off from a poverty trap. Taxation finances financial infrastructures and decreases the private productivity of capital. Growth and welfare maximising levels of financial infrastructures are computed.
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Dates et versions

halshs-00112551 , version 1 (30-11-2006)

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Jean-Bernard Chatelain, Bruno Amable. Can financial infrastructures foster economic development?. Journal of Development Economics, 2001, 64 (2), pp.481-498. ⟨10.1016/S0304-3878(00)00147-4⟩. ⟨halshs-00112551⟩
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