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| Author: | Di Giorgio, G. |
| Title: | Financial development and reserve requirements |
| Journal: | Journal of Banking and Finance
1999 : JUL, VOL. 23:7, p. 1031-1041 |
| Index terms: | Banking Finance Development |
| Freeterms: | Reserves Financial intermediation |
| Language: | eng |
| Abstract: | Many countries have either eliminated or considerably reduced reserve requirements during the last decade. In this paper, derived is the optimal reserve requirements of a simple economy with production and financial intermediation subject to costly state verification. It is also shown that one motivation for the widely observed reduction in the level of mandatory reserves is linked to the process of financial markets development. |
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