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Quantifying the Impact of Financial Development on Economic Development

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NBER2010-04-01 更新2025-01-04 收录
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https://www.nber.org/papers/w15893
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How important is financial development for economic development? A costly state verification model of financial intermediation is presented to address this question. The model is calibrated to match facts about the U.S. economy, such as intermediation spreads and the firm-size distribution for the
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2010-04-01
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