Financial liberalization and investment:
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
London [u.a.]
Routledge
1996
|
| Edition: | 1. publ. |
| Series: | Routledge studies in development economics
4 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XII, 183 S. graph. Darst. |
| ISBN: | 0415138795 |
Staff View
MARC
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Record in the Search Index
| _version_ | 1804125294394605568 |
|---|---|
| adam_text | CONTENTS
List of figures ix
List of tables xi
Acknowledgements xii
1 INTRODUCTION 1
Appendix 1 8
2 THE BASE MODEL 10
The model 11
Financial liberalization and the supply of credit to
the private sector 19
Financial liberalization and private investment 21
Concluding remarks 25
Appendix 2 26
Appendix 3 28
3 ROLE OF FOREIGN AID AND THE
GOVERNMENT 30
The fiscal response to foreign aid 31
The model when government expenditures and taxes are
endogenized 34
Financial liberalization when foreign aid is exogenous 38
The role of foreign aid when aid is endogenized 42
Conclusions 45
Appendix 4 47
4 THE ROLE OF INFORMAL FINANCIAL
MARKETS 50
Different types of informal financial intermediaries 51
Theories on the working of informal financial markets 54
Role of interest rate deregulation in the presence of curb
markets: A brief survey 58
vii
CONTENTS
The model 60
Financial liberalization and private investment 63
Conclusions 67
Appendix 5 67
5 ALLOCATIVE EFFICIENCY AND
FINANCIAL DEREGULATION 69
The Galbis model 70
Some empirical evidence 71
The model 75
How to measure the improvement of the allocative
efficiency? 79
The impact of deregulation of the formal deposit rate on
the allocative efficiency 79
Conclusions 85
6 BANKING EFFICIENCY AND PRIVATE
INVESTMENT 86
The Viaene model 87
The model 87
Banking efficiency and private investment if the private
sector is credit constrained 89
Banking efficiency and investment if the private sector
is not credit constrained 93
Concluding remarks 94
7 SOME SIMULATION RESULTS 96
The model 97
The simulation strategy 107
The simulation results 113
Concluding remarks 142
Appendix 6 143
8 FINANCIAL REPRESSION AND FISCAL
POLICY 146
The simulation strategy 147
The simulation results 147
Concluding remarks 164
9 SUMMING UP 166
Notes 168
Bibliography 171
Index 179
viii
FIGURES
7.1 Base model simulations 114
7.2 Base model simulations 115
7.3 Base model simulations 116
7.4 Base model simulations 117
7.5 Base model simulations 118
7.6 Base model simulations 119
7.7 Alternative simulation 1: no substitution between
deposits and capital 121
7.8 Alternative simulation 1: no substitution between
deposits and capital 122
7.9 Alternative simulation 2: only investment is credit
constrained 123
7.10 Alternative simulation 2: only investment is credit
constrained 124
7.11 Alternative simulation 3: consumption not affected
by real interest rates 125
7.12 Alternative simulation 3: consumption not affected
by real interest rates 126
7.13 Alternative simulation 4: higher wealth effect in
investment equation 128
7.14 Alternative simulation 4: higher wealth effect in
investment equation 129
7.15 Alternative simulation 5: higher reserve requirements in
formal banking sector and only investment credit
constrained 130
7.16 Alternative simulation 5: higher reserve requirements in
formal banking sector and only investment credit
constrained 131
ix
FIGURES
7.17 Alternative simulation 5: higher reserve requirements in
formal banking sector and only investment credit
constrained 132
7.18 Alternative simulation 6: aid increases with 5% 134
7.19 Alternative simulation 6: aid increases with 5% 135
7.20 Alternative simulation 6: aid increases with 5% 136
7.21 Alternative simulation 6: aid increases with 5% 137
7.22 Alternative simulation 7: aid increases with 5% and
government investment positively affects private
investment (71 = 0.3) 138
7.23 Alternative simulation 7: aid increases with 5% and
government investment positively affects private
investment (71 = 0.3) 139
7.24 Alternative simulation 7: aid increases with 5% and
government investment positively affects private
investment (71 = 0.3) 140
7.25 Alternative simulation 7: aid increases with 5% and
government investment positively affects private
investment (71 = 0.3) 141
8.1 Tax on bond interest income: private investment 149
8.2 Tax on bond interest income: government investment 150
8.3 Tax on bond interest income: government consumption 151
8.4 Tax on bond interest income: inflation 152
8.5 Tax on bond interest income: private wealth 153
8.6 Borrowing at concessional rates: private investment 154
8.7 Borrowing at concessional rates: government investment 155
8.8 Borrowing at concessional rates: government
consumption 156
8.9 Borrowing at concessional rates: inflation 157
8.10 Borrowing at concessional rates: private wealth 158
8.11 Higher reserve requirements for formal banks: private
investment 159
8.12 Higher reserve requirements for formal banks:
government investment 160
8.13 Higher reserve requirements for formal banks:
government consumption 161
8.14 Higher reserve requirements for formal banks: inflation 162
8.15 Higher reserve requirements for formal banks: private
wealth 163
x
TABLES
2.1 The accounting framework of the model 11
3.1 Effects of aid on government expenditures and taxes 34
4.1 The accounting framework of the model including
informal financial markets 62
5.1 Costs of borrowing of 68 manufacturing industries 72
5.2 Costs of borrowing for 28 industries in Turkey 73
5.3 Measures of efficiency of the allocation of investment
in Indonesia 74
5.4 Measures of efficiency of the allocation of investment
in Ecuador 74
7.1 Notations and definitions used in the model 97
7.2 The accounting framework of the model 99
7.3 Parameters of the asset demand equations and private
consumption 111
7.4 Parameters of the government equations, initial values
and exogenous variables 112
8.1 Effects of financial repression 164
xi
|
| any_adam_object | 1 |
| author | Gupta, Kanhaya L. 1935- Lensink, Robert 1962- |
| author_GND | (DE-588)104317329 (DE-588)123650607 |
| author_facet | Gupta, Kanhaya L. 1935- Lensink, Robert 1962- |
| author_role | aut aut |
| author_sort | Gupta, Kanhaya L. 1935- |
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| dewey-full | 332.120 |
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| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.1 20 |
| dewey-search | 332.1 20 |
| dewey-sort | 3332.1 220 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 1. publ. |
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| geographic_facet | Entwicklungsländer |
| id | DE-604.BV010809690 |
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| indexdate | 2024-07-09T17:59:16Z |
| institution | BVB |
| isbn | 0415138795 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-007221890 |
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| physical | XII, 183 S. graph. Darst. |
| publishDate | 1996 |
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| publisher | Routledge |
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| series | Routledge studies in development economics |
| series2 | Routledge studies in development economics |
| spelling | Gupta, Kanhaya L. 1935- Verfasser (DE-588)104317329 aut Financial liberalization and investment Kanhaya L. Gupta and Robert Lensink 1. publ. London [u.a.] Routledge 1996 XII, 183 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Routledge studies in development economics 4 Politik Financial services industry -- Deregulation Monetary policy Investments -- Government policy Kreditmarkt (DE-588)4073788-3 gnd rswk-swf Mathematisches Modell (DE-588)4114528-8 gnd rswk-swf Liberalisierung (DE-588)4120670-8 gnd rswk-swf Finanzdienstleistung (DE-588)4212226-0 gnd rswk-swf Entwicklungsländer (DE-588)4014954-7 gnd rswk-swf Finanzdienstleistung (DE-588)4212226-0 s Liberalisierung (DE-588)4120670-8 s Mathematisches Modell (DE-588)4114528-8 s DE-604 Kreditmarkt (DE-588)4073788-3 s Entwicklungsländer (DE-588)4014954-7 g Lensink, Robert 1962- Verfasser (DE-588)123650607 aut Routledge studies in development economics 4 (DE-604)BV010799582 4 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007221890&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Gupta, Kanhaya L. 1935- Lensink, Robert 1962- Financial liberalization and investment Routledge studies in development economics Politik Financial services industry -- Deregulation Monetary policy Investments -- Government policy Kreditmarkt (DE-588)4073788-3 gnd Mathematisches Modell (DE-588)4114528-8 gnd Liberalisierung (DE-588)4120670-8 gnd Finanzdienstleistung (DE-588)4212226-0 gnd |
| subject_GND | (DE-588)4073788-3 (DE-588)4114528-8 (DE-588)4120670-8 (DE-588)4212226-0 (DE-588)4014954-7 |
| title | Financial liberalization and investment |
| title_auth | Financial liberalization and investment |
| title_exact_search | Financial liberalization and investment |
| title_full | Financial liberalization and investment Kanhaya L. Gupta and Robert Lensink |
| title_fullStr | Financial liberalization and investment Kanhaya L. Gupta and Robert Lensink |
| title_full_unstemmed | Financial liberalization and investment Kanhaya L. Gupta and Robert Lensink |
| title_short | Financial liberalization and investment |
| title_sort | financial liberalization and investment |
| topic | Politik Financial services industry -- Deregulation Monetary policy Investments -- Government policy Kreditmarkt (DE-588)4073788-3 gnd Mathematisches Modell (DE-588)4114528-8 gnd Liberalisierung (DE-588)4120670-8 gnd Finanzdienstleistung (DE-588)4212226-0 gnd |
| topic_facet | Politik Financial services industry -- Deregulation Monetary policy Investments -- Government policy Kreditmarkt Mathematisches Modell Liberalisierung Finanzdienstleistung Entwicklungsländer |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007221890&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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