haku: @freeterm FINANCIAL DEVELOPMENT / yhteensä: 5
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| Tekijä: | Blackburn, K. Hung, V. T. Y. |
| Otsikko: | A theory of growth, financial development and trade |
| Lehti: | Economica
1998 : FEB, VOL. 65:257 |
| Asiasana: | THEORIES GROWTH FINANCE DEVELOPMENT TRADE |
| Vapaa asiasana: | FINANCIAL DEVELOPMENT |
| Kieli: | eng |
| Tiivistelmä: | This study presents an analysis of the joint determination of real and financial development. Privately informed designers obtain external finance for their research projects through incentive-compatible loan contracts, which are enforced through costly monitoring activity. The analysis establishes a positive two-way causal relationship between growth and financial development. |
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