skip to content
Covid-19 virus
COVID-19 Resources

Reliable information about the coronavirus (COVID-19) is available from the World Health Organization (current situation, international travel). Numerous and frequently-updated resource results are available from this WorldCat.org search. OCLC’s WebJunction has pulled together information and resources to assist library staff as they consider how to handle coronavirus issues in their communities.

Image provided by: CDC/ Alissa Eckert, MS; Dan Higgins, MAM
Financing development : the role of information costs Preview this item
ClosePreview this item
Checking...

Financing development : the role of information costs

Author: Jeremy Greenwood; J M Sanchez; Cheng Wang; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2007.
Series: Working paper series (National Bureau of Economic Research), no. 13104.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
How does technological progress in financial intermediation affect the economy? To address this question a costly-state verification framework is embedded into a standard growth model. In particular, financial intermediaries can invest resources to monitor the returns earned by firms. The inability to monitor perfectly leads to firms earning rents. Undeserving firms are financed, while deserving ones are under  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy online

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Jeremy Greenwood; J M Sanchez; Cheng Wang; National Bureau of Economic Research.
OCLC Number: 131822921
Description: 1 online resource (1 volume).
Series Title: Working paper series (National Bureau of Economic Research), no. 13104.
Responsibility: Jeremy Greenwood, Juan M. Sanchez, Cheng Wang.

Abstract:

How does technological progress in financial intermediation affect the economy? To address this question a costly-state verification framework is embedded into a standard growth model. In particular, financial intermediaries can invest resources to monitor the returns earned by firms. The inability to monitor perfectly leads to firms earning rents. Undeserving firms are financed, while deserving ones are under funded. A more efficient monitoring technology squeezes the rents earned by firms. With technological advance in the financial sector, the economy moves continuously from a credit-rationing equilibrium to a perfectly efficient competitive equilibrium. A numerical example suggests that finance is important for growth.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.

Similar Items

Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


\n\n

Primary Entity<\/h3>\n
<http:\/\/www.worldcat.org\/oclc\/131822921<\/a>> # Financing development : the role of information costs<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:CreativeWork<\/a>, schema:MediaObject<\/a>, schema:Book<\/a> ;\u00A0\u00A0\u00A0\nlibrary:oclcnum<\/a> \"131822921<\/span>\" ;\u00A0\u00A0\u00A0\nlibrary:placeOfPublication<\/a> <http:\/\/id.loc.gov\/vocabulary\/countries\/mau<\/a>> ;\u00A0\u00A0\u00A0\nlibrary:placeOfPublication<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/290579921#Place\/cambridge_mass<\/a>> ; # Cambridge, Mass.<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/id.worldcat.org\/fast\/879850<\/a>> ; # Corporations--Finance--Econometric models<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/290579921#Topic\/corporations_finance_econometric_models<\/a>> ; # Corporations--Finance--Econometric models<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/dewey.info\/class\/330\/<\/a>> ;\u00A0\u00A0\u00A0\nschema:bookFormat<\/a> schema:EBook<\/a> ;\u00A0\u00A0\u00A0\nschema:contributor<\/a> <http:\/\/viaf.org\/viaf\/55336063<\/a>> ; # Cheng Wang<\/span>\n\u00A0\u00A0\u00A0\nschema:contributor<\/a> <http:\/\/viaf.org\/viaf\/73063007<\/a>> ; # Juan M. Sanchez<\/span>\n\u00A0\u00A0\u00A0\nschema:contributor<\/a> <http:\/\/viaf.org\/viaf\/135446122<\/a>> ; # National Bureau of Economic Research.<\/span>\n\u00A0\u00A0\u00A0\nschema:creator<\/a> <http:\/\/viaf.org\/viaf\/15855901<\/a>> ; # Jeremy Greenwood<\/span>\n\u00A0\u00A0\u00A0\nschema:datePublished<\/a> \"2007<\/span>\" ;\u00A0\u00A0\u00A0\nschema:description<\/a> \"How does technological progress in financial intermediation affect the economy? To address this question a costly-state verification framework is embedded into a standard growth model. In particular, financial intermediaries can invest resources to monitor the returns earned by firms. The inability to monitor perfectly leads to firms earning rents. Undeserving firms are financed, while deserving ones are under funded. A more efficient monitoring technology squeezes the rents earned by firms. With technological advance in the financial sector, the economy moves continuously from a credit-rationing equilibrium to a perfectly efficient competitive equilibrium. A numerical example suggests that finance is important for growth.<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\nschema:exampleOfWork<\/a> <http:\/\/worldcat.org\/entity\/work\/id\/290579921<\/a>> ;\u00A0\u00A0\u00A0\nschema:inLanguage<\/a> \"en<\/span>\" ;\u00A0\u00A0\u00A0\nschema:isPartOf<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/290579921#Series\/nber_working_paper_series<\/a>> ; # NBER working paper series ;<\/span>\n\u00A0\u00A0\u00A0\nschema:isPartOf<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/290579921#Series\/working_paper_series_national_bureau_of_economic_research<\/a>> ; # Working paper series (National Bureau of Economic Research) ;<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"Financing development : the role of information costs<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\nschema:productID<\/a> \"131822921<\/span>\" ;\u00A0\u00A0\u00A0\nschema:publication<\/a> <http:\/\/www.worldcat.org\/title\/-\/oclc\/131822921#PublicationEvent\/cambridge_mass_national_bureau_of_economic_research_2007<\/a>> ;\u00A0\u00A0\u00A0\nschema:publisher<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/290579921#Agent\/national_bureau_of_economic_research<\/a>> ; # National Bureau of Economic Research<\/span>\n\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/0-papers.nber.org.biblio.eui.eu\/papers\/<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/www.library.yorku.ca\/e\/resolver\/id\/1953006<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/ezproxy.eui.eu\/login?url=http:\/\/papers.nber.org\/papers\/<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/VH7QX3XE2P.search.serialssolutions.com\/?V=1.0&L=VH7QX3XE2P&S=AC_T_B&C=Financing%20Development%20%3A%20The%20Role%20of%20Information%20Costs&T=marc&tab=BOOKS<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/papers.nber.org\/papers\/w13104<\/a>> ;\u00A0\u00A0\u00A0\nwdrs:describedby<\/a> <http:\/\/www.worldcat.org\/title\/-\/oclc\/131822921<\/a>> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n\n

Related Entities<\/h3>\n
<http:\/\/dewey.info\/class\/330\/<\/a>>\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/290579921#Agent\/national_bureau_of_economic_research<\/a>> # National Bureau of Economic Research<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:Agent<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"National Bureau of Economic Research<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/290579921#Place\/cambridge_mass<\/a>> # Cambridge, Mass.<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Cambridge, Mass.<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/290579921#Series\/nber_working_paper_series<\/a>> # NBER working paper series ;<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:PublicationSeries<\/a> ;\u00A0\u00A0\u00A0\nschema:hasPart<\/a> <http:\/\/www.worldcat.org\/oclc\/131822921<\/a>> ; # Financing development : the role of information costs<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"NBER working paper series ;<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/290579921#Series\/working_paper_series_national_bureau_of_economic_research<\/a>> # Working paper series (National Bureau of Economic Research) ;<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:PublicationSeries<\/a> ;\u00A0\u00A0\u00A0\nschema:hasPart<\/a> <http:\/\/www.worldcat.org\/oclc\/131822921<\/a>> ; # Financing development : the role of information costs<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"Working paper series (National Bureau of Economic Research) ;<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/290579921#Topic\/corporations_finance_econometric_models<\/a>> # Corporations--Finance--Econometric models<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:hasPart<\/a> <http:\/\/id.loc.gov\/authorities\/subjects\/sh85032938<\/a>> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Corporations--Finance--Econometric models<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/ezproxy.eui.eu\/login?url=http:\/\/papers.nber.org\/papers\/<\/a>>\u00A0\u00A0\u00A0\nrdfs:comment<\/a> \"Check for full-text<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.loc.gov\/vocabulary\/countries\/mau<\/a>>\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\ndcterms:identifier<\/a> \"mau<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.worldcat.org\/fast\/879850<\/a>> # Corporations--Finance--Econometric models<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Corporations--Finance--Econometric models<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/VH7QX3XE2P.search.serialssolutions.com\/?V=1.0&L=VH7QX3XE2P&S=AC_T_B&C=Financing%20Development%20%3A%20The%20Role%20of%20Information%20Costs&T=marc&tab=BOOKS<\/a>>\u00A0\u00A0\u00A0\nrdfs:comment<\/a> \"VIEW FULL TEXT<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/viaf.org\/viaf\/135446122<\/a>> # National Bureau of Economic Research.<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Organization<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"National Bureau of Economic Research.<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/viaf.org\/viaf\/15855901<\/a>> # Jeremy Greenwood<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Person<\/a> ;\u00A0\u00A0\u00A0\nschema:birthDate<\/a> \"1953<\/span>\" ;\u00A0\u00A0\u00A0\nschema:familyName<\/a> \"Greenwood<\/span>\" ;\u00A0\u00A0\u00A0\nschema:givenName<\/a> \"Jeremy<\/span>\" ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Jeremy Greenwood<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/viaf.org\/viaf\/55336063<\/a>> # Cheng Wang<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Person<\/a> ;\u00A0\u00A0\u00A0\nschema:familyName<\/a> \"Wang<\/span>\" ;\u00A0\u00A0\u00A0\nschema:givenName<\/a> \"Cheng<\/span>\" ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Cheng Wang<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/viaf.org\/viaf\/73063007<\/a>> # Juan M. Sanchez<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Person<\/a> ;\u00A0\u00A0\u00A0\nschema:familyName<\/a> \"Sanchez<\/span>\" ;\u00A0\u00A0\u00A0\nschema:givenName<\/a> \"Juan M.<\/span>\" ;\u00A0\u00A0\u00A0\nschema:givenName<\/a> \"J. M.<\/span>\" ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Juan M. Sanchez<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/www.worldcat.org\/title\/-\/oclc\/131822921<\/a>>\u00A0\u00A0\u00A0\u00A0a \ngenont:InformationResource<\/a>, genont:ContentTypeGenericResource<\/a> ;\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/www.worldcat.org\/oclc\/131822921<\/a>> ; # Financing development : the role of information costs<\/span>\n\u00A0\u00A0\u00A0\nschema:dateModified<\/a> \"2019-02-09<\/span>\" ;\u00A0\u00A0\u00A0\nvoid:inDataset<\/a> <http:\/\/purl.oclc.org\/dataset\/WorldCat<\/a>> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/www.worldcat.org\/title\/-\/oclc\/131822921#PublicationEvent\/cambridge_mass_national_bureau_of_economic_research_2007<\/a>>\u00A0\u00A0\u00A0\u00A0a \nschema:PublicationEvent<\/a> ;\u00A0\u00A0\u00A0\nschema:location<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/290579921#Place\/cambridge_mass<\/a>> ; # Cambridge, Mass.<\/span>\n\u00A0\u00A0\u00A0\nschema:organizer<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/290579921#Agent\/national_bureau_of_economic_research<\/a>> ; # National Bureau of Economic Research<\/span>\n\u00A0\u00A0\u00A0\nschema:startDate<\/a> \"2007<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n\n

Content-negotiable representations<\/p>\n