Agrarian Structure and Endogenous Financial System Development

The development of the financial system is shown, both historically and in contemporary data, to be adversely affected by inequality in the distribution of land. To accommodate these empirical findings, a theory is developed that highlights the incentives of landowners to oppose competition in the financial sector. The theory provides an explanation for the co-incident development of the financial sector and overall economy.

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Year of publication:	2008-11-11
Authors:	Vollrath, Dietrich
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Land distribution \| financial development \| overlapping generations \| financial institutions

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	E25 - Aggregate Factor Income Distribution ; G18 - Government Policy and Regulation ; N2 - Financial Markets and Institutions ; O4 - Economic Growth and Aggregate Productivity
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005626857