Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality.:
We develop a micro-founded general equilibrium model with heterogeneous agents to identify pertinentconstraints to financial inclusion. We evaluate quantitatively the policy impacts of relaxing each of theseconstraints separately, and in combination, on GDP and inequality. We focus on three dimensio...
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| Main Author: | |
|---|---|
| Other Authors: | , , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington :
International Monetary Fund,
2015.
|
| Series: | IMF Working Papers.
|
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | We develop a micro-founded general equilibrium model with heterogeneous agents to identify pertinentconstraints to financial inclusion. We evaluate quantitatively the policy impacts of relaxing each of theseconstraints separately, and in combination, on GDP and inequality. We focus on three dimensions of financialinclusion: access (determined by the size of participation costs), depth (determined by the size of collateralconstraints resulting from limited commitment), and intermediation efficiency (determined by the size ofinterest rate spreads and default possibilities due to costly monitorin. |
| Physical Description: | 1 online resource (50 pages) |
| ISBN: | 9781475585919 1475585918 |
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MARC
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| 505 | 0 | |a Cover; Contents; 1. Introduction; 2. Literature Review; 3. The Model; 3.1 Individuals; 3.1.1 Savings Regime; 3.1.2 Credit Regime; 3.1.3 Occupational Choice; FIGURES; 1. Lending Interest Rate, Monitoring Frequency, Cost of Capital, and Leverage Ratio; 2. The Occupation Choice Map in the Two Regimes; 3.2 Competitive Equilibrium; 4. Data and Calibration; TABLES; 1. Overview of the Data; 2. Data, Model and Calibrated Parameters; 5. Evaluation of Policy Options; 5.1 Reducing the Participation Cost; 5.2 Relaxing Collateral Constraints. | |
| 505 | 8 | |a 3. Comparative Statics: Credit Participation Cost-Low-Income Countries4. Comparative Statics: Credit Participation Cost-Emerging Market Countries; 5.3 Increasing Intermediation Efficiency; 5. Comparative Statics: Collateral Constraint-Low-Income Countries; 6. Comparative Statics: Collateral Constraint-Emerging Market Countries; 5.4 Interactions Among Three Financial Parameters; 7. Comparative Statics: Intermediation Cost-Low-Income Countries; 8. Comparative Statics: Intermediation Cost-Emerging Market Countries. | |
| 505 | 8 | |a 9. The Increase in Relative GDP per Capita When the Borrowing Constraint is Relaxed by 20% for Different Financial Participation Costs and Intermediation Costs5.5 Impact on GDP and Inequality: A Numerical Comparison; 5.6 Welfare Analysis; 3. The Impact of Financial Deepening of Various Forms of GDP per Capita, TFP and Income Inequality; 4. The Impact of Financial Deepening of Various Forms of GDP per Capita, TFP and Income Inequality; 10. The Impact of Financial Deepening on Welfare Redistribution; 6. Conclusion; REFERENCE. | |
| 520 | |a We develop a micro-founded general equilibrium model with heterogeneous agents to identify pertinentconstraints to financial inclusion. We evaluate quantitatively the policy impacts of relaxing each of theseconstraints separately, and in combination, on GDP and inequality. We focus on three dimensions of financialinclusion: access (determined by the size of participation costs), depth (determined by the size of collateralconstraints resulting from limited commitment), and intermediation efficiency (determined by the size ofinterest rate spreads and default possibilities due to costly monitorin. | ||
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| contents | Cover; Contents; 1. Introduction; 2. Literature Review; 3. The Model; 3.1 Individuals; 3.1.1 Savings Regime; 3.1.2 Credit Regime; 3.1.3 Occupational Choice; FIGURES; 1. Lending Interest Rate, Monitoring Frequency, Cost of Capital, and Leverage Ratio; 2. The Occupation Choice Map in the Two Regimes; 3.2 Competitive Equilibrium; 4. Data and Calibration; TABLES; 1. Overview of the Data; 2. Data, Model and Calibrated Parameters; 5. Evaluation of Policy Options; 5.1 Reducing the Participation Cost; 5.2 Relaxing Collateral Constraints. 3. Comparative Statics: Credit Participation Cost-Low-Income Countries4. Comparative Statics: Credit Participation Cost-Emerging Market Countries; 5.3 Increasing Intermediation Efficiency; 5. Comparative Statics: Collateral Constraint-Low-Income Countries; 6. Comparative Statics: Collateral Constraint-Emerging Market Countries; 5.4 Interactions Among Three Financial Parameters; 7. Comparative Statics: Intermediation Cost-Low-Income Countries; 8. Comparative Statics: Intermediation Cost-Emerging Market Countries. 9. The Increase in Relative GDP per Capita When the Borrowing Constraint is Relaxed by 20% for Different Financial Participation Costs and Intermediation Costs5.5 Impact on GDP and Inequality: A Numerical Comparison; 5.6 Welfare Analysis; 3. The Impact of Financial Deepening of Various Forms of GDP per Capita, TFP and Income Inequality; 4. The Impact of Financial Deepening of Various Forms of GDP per Capita, TFP and Income Inequality; 10. The Impact of Financial Deepening on Welfare Redistribution; 6. Conclusion; REFERENCE. |
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| discipline | Wirtschaftswissenschaften |
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| series2 | IMF Working Papers ; |
| spelling | Dabla-Norris, Era. Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality. Washington : International Monetary Fund, 2015. 1 online resource (50 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier data file rda IMF Working Papers ; v. Working Paper No. 15/22 Print version record. Cover; Contents; 1. Introduction; 2. Literature Review; 3. The Model; 3.1 Individuals; 3.1.1 Savings Regime; 3.1.2 Credit Regime; 3.1.3 Occupational Choice; FIGURES; 1. Lending Interest Rate, Monitoring Frequency, Cost of Capital, and Leverage Ratio; 2. The Occupation Choice Map in the Two Regimes; 3.2 Competitive Equilibrium; 4. Data and Calibration; TABLES; 1. Overview of the Data; 2. Data, Model and Calibrated Parameters; 5. Evaluation of Policy Options; 5.1 Reducing the Participation Cost; 5.2 Relaxing Collateral Constraints. 3. Comparative Statics: Credit Participation Cost-Low-Income Countries4. Comparative Statics: Credit Participation Cost-Emerging Market Countries; 5.3 Increasing Intermediation Efficiency; 5. Comparative Statics: Collateral Constraint-Low-Income Countries; 6. Comparative Statics: Collateral Constraint-Emerging Market Countries; 5.4 Interactions Among Three Financial Parameters; 7. Comparative Statics: Intermediation Cost-Low-Income Countries; 8. Comparative Statics: Intermediation Cost-Emerging Market Countries. 9. The Increase in Relative GDP per Capita When the Borrowing Constraint is Relaxed by 20% for Different Financial Participation Costs and Intermediation Costs5.5 Impact on GDP and Inequality: A Numerical Comparison; 5.6 Welfare Analysis; 3. The Impact of Financial Deepening of Various Forms of GDP per Capita, TFP and Income Inequality; 4. The Impact of Financial Deepening of Various Forms of GDP per Capita, TFP and Income Inequality; 10. The Impact of Financial Deepening on Welfare Redistribution; 6. Conclusion; REFERENCE. We develop a micro-founded general equilibrium model with heterogeneous agents to identify pertinentconstraints to financial inclusion. We evaluate quantitatively the policy impacts of relaxing each of theseconstraints separately, and in combination, on GDP and inequality. We focus on three dimensions of financialinclusion: access (determined by the size of participation costs), depth (determined by the size of collateralconstraints resulting from limited commitment), and intermediation efficiency (determined by the size ofinterest rate spreads and default possibilities due to costly monitorin. Financial services industry Developing countries Econometric models. Income distribution Developing countries Econometric models. Gross domestic product Developing countries Econometric models. Computable general equilibrium models. http://id.loc.gov/authorities/subjects/sh2012003734 Developing countries Economic policy Econometric models. Modèles d'équilibre général calculable. BUSINESS & ECONOMICS Public Finance. bisacsh Computable general equilibrium models fast Economic policy Econometric models fast Financial services industry Econometric models fast Gross domestic product Econometric models fast Income distribution Econometric models fast Developing countries fast Ji, Yan. Townsend, Robert. Unsal, D. Filiz. Print version: Dabla-Norris, Era. Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality: A Structural Framework for Policy. Washington : International Monetary Fund, ©2015 IMF Working Papers. |
| spellingShingle | Dabla-Norris, Era Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality. IMF Working Papers. Cover; Contents; 1. Introduction; 2. Literature Review; 3. The Model; 3.1 Individuals; 3.1.1 Savings Regime; 3.1.2 Credit Regime; 3.1.3 Occupational Choice; FIGURES; 1. Lending Interest Rate, Monitoring Frequency, Cost of Capital, and Leverage Ratio; 2. The Occupation Choice Map in the Two Regimes; 3.2 Competitive Equilibrium; 4. Data and Calibration; TABLES; 1. Overview of the Data; 2. Data, Model and Calibrated Parameters; 5. Evaluation of Policy Options; 5.1 Reducing the Participation Cost; 5.2 Relaxing Collateral Constraints. 3. Comparative Statics: Credit Participation Cost-Low-Income Countries4. Comparative Statics: Credit Participation Cost-Emerging Market Countries; 5.3 Increasing Intermediation Efficiency; 5. Comparative Statics: Collateral Constraint-Low-Income Countries; 6. Comparative Statics: Collateral Constraint-Emerging Market Countries; 5.4 Interactions Among Three Financial Parameters; 7. Comparative Statics: Intermediation Cost-Low-Income Countries; 8. Comparative Statics: Intermediation Cost-Emerging Market Countries. 9. The Increase in Relative GDP per Capita When the Borrowing Constraint is Relaxed by 20% for Different Financial Participation Costs and Intermediation Costs5.5 Impact on GDP and Inequality: A Numerical Comparison; 5.6 Welfare Analysis; 3. The Impact of Financial Deepening of Various Forms of GDP per Capita, TFP and Income Inequality; 4. The Impact of Financial Deepening of Various Forms of GDP per Capita, TFP and Income Inequality; 10. The Impact of Financial Deepening on Welfare Redistribution; 6. Conclusion; REFERENCE. Financial services industry Developing countries Econometric models. Income distribution Developing countries Econometric models. Gross domestic product Developing countries Econometric models. Computable general equilibrium models. http://id.loc.gov/authorities/subjects/sh2012003734 Modèles d'équilibre général calculable. BUSINESS & ECONOMICS Public Finance. bisacsh Computable general equilibrium models fast Economic policy Econometric models fast Financial services industry Econometric models fast Gross domestic product Econometric models fast Income distribution Econometric models fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh2012003734 |
| title | Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality. |
| title_auth | Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality. |
| title_exact_search | Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality. |
| title_full | Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality. |
| title_fullStr | Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality. |
| title_full_unstemmed | Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality. |
| title_short | Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality. |
| title_sort | identifying constraints to financial inclusion and their impact on gdp and inequality |
| topic | Financial services industry Developing countries Econometric models. Income distribution Developing countries Econometric models. Gross domestic product Developing countries Econometric models. Computable general equilibrium models. http://id.loc.gov/authorities/subjects/sh2012003734 Modèles d'équilibre général calculable. BUSINESS & ECONOMICS Public Finance. bisacsh Computable general equilibrium models fast Economic policy Econometric models fast Financial services industry Econometric models fast Gross domestic product Econometric models fast Income distribution Econometric models fast |
| topic_facet | Financial services industry Developing countries Econometric models. Income distribution Developing countries Econometric models. Gross domestic product Developing countries Econometric models. Computable general equilibrium models. Developing countries Economic policy Econometric models. Modèles d'équilibre général calculable. BUSINESS & ECONOMICS Public Finance. Computable general equilibrium models Economic policy Econometric models Financial services industry Econometric models Gross domestic product Econometric models Income distribution Econometric models Developing countries |
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