Vollrath, Dietrich (2008): Agrarian Structure and Endogenous Financial System Development.
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The development of the financial system is shown, both historically and in contemporary data, to be adversely affected by inequality in the distribution of land. To accommodate these empirical findings, a theory is developed that highlights the incentives of landowners to oppose competition in the financial sector. The theory provides an explanation for the co-incident development of the financial sector and overall economy.
|Item Type:||MPRA Paper|
|Original Title:||Agrarian Structure and Endogenous Financial System Development|
|Keywords:||Land distribution, financial development, overlapping generations, financial institutions|
|Subjects:||E - Macroeconomics and Monetary Economics > E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment > E25 - Aggregate Factor Income Distribution
G - Financial Economics > G1 - General Financial Markets > G18 - Government Policy and Regulation
N - Economic History > N2 - Financial Markets and Institutions
O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity
|Depositing User:||Dietrich Vollrath|
|Date Deposited:||13. Nov 2008 04:30|
|Last Modified:||11. Feb 2013 10:21|
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