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|z 9781451867183
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|a 1018-5941
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|a Ueda, Kenichi.
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|a Welfare Gains from Financial Liberalization /
|c Kenichi Ueda, Robert Townsend.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2007.
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|a 1 online resource (40 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Financial liberalization has been a controversial issue as there is little empirical evidence for its positive effects on economic growth. However, we find sizable welfare gains, 1 to 28 percent of permanent consumption though, consistent with the literature, the gain in the economic growth is ambiguous, -0.2 to 0.7 percent. We apply a canonical growth model with endogenous financial deepening to Thailand, 1976-96. As effective bank transaction costs decline, more people take advantage of financial services. We estimate the gains by comparing model simulations under the historical episode of financial liberalization to those under a hypothetical continuation of financial repression.
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|a Mode of access: Internet
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|a Townsend, Robert.
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|a IMF Working Papers; Working Paper ;
|v No. 2007/154
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2007/154/001.2007.issue-154-en.xml
|z IMF e-Library
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