| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1151 |
| DP1151 Tax and Benefit Reform in the Czech and Slovak Republics | |
| Stephen Smith; Christopher Heady | |
| 发表日期 | 1995-03-31 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | This paper reformulates the well known financial development conjecture (FDC) and supplies some new empirical evidence in its favour. The financial development conjecture, namely, that there exist strong feedback effects between real and financial development, is described in this paper by use of the cost of financial intermediation. The theoretical part of the paper describes how specialization of banks can lead to such feedback effects, which work through the cost of financial intermediation. In the empirical part of the paper we use US cross-state data from banks' income statements to show that the cost of banking is negatively related with the level of real economic development. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Banks Economic growth Financial development |
| URL | https://cepr.org/publications/dp1151 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530293 |
| 推荐引用方式 GB/T 7714 | Stephen Smith,Christopher Heady. DP1151 Tax and Benefit Reform in the Czech and Slovak Republics. 1995. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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