Financial deepening

被引：7

作者：

Kiyotaki, N ^{[1
]}

Moore, J

机构：

[1] Univ London London Sch Econ & Polit Sci, London WC2A 2AE, England

[2] Univ Edinburgh, Edinburgh EH8 9YL, Midlothian, Scotland

来源：

JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION | 2005年 / 3卷 / 2-3期

关键词：

D O I：

10.1162/jeea.2005.3.2-3.701

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We develop a model of financial deepening, based on the distinction between limited bilateral commitment and limited multilateral commitment. We explore the effects of secular changes in financial depth on investment and output; on intermediation and interest rates; on the long-run velocities of circulation of different monetary instruments, and the use of outside money; on the patterns of saving and trade in paper. Three stages of financial development are identified.

引用

页码：701 / 713

页数：13

共 9 条

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[9]

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