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This paper formally identifies an important role of banks: Banks competitively internalize production externalities and facilitate economic growth. I formulate a canonical growth model with externalities as a game among consumers, firms, and banks. Banks compete for deposits to seek monopoly...
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exports of all five broad categories of the U.K.'s financial and insurance services. No trade barriers are found for the bulk … suggests that post-Brexit disruptions of the U.K.'s export of financial and insurance services may be minor …
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ex-ante preparedness is needed to manage the risks. The paper discusses sovereign experience with disaster insurance as a … key instrument to mitigate the risks; proposes ways to judge the adequacy of insurance; and considers ways to enhance its … use by vulnerable countries. The paper especially aims to inform policy decisions on disaster insurance. Through …
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