This paper offers a theory of development which links the degree of market incompleteness to capital accumulation and …

behaviour, under different assumptions about deposit insurance and the dissemination of financial information. We find that … insurance coverage amplifies this effect, two alternative arrangements (risk based contributions to the deposit insurance fund … and risk based full deposit insurance yield the same, entry cost independent, equilibrium risk level. The welfare …

riskiness of the portfolio. This represents a departure from the existing literature on agency theory in that moral hazard is … portfolio. This represents a departure from the existing literature on agency theory in that moral hazard is not only effort …