FINANCIAL INTERMEDIATION, ENTREPRENEURSHIP AND ECONOMIC GROWTH

Wenli Cheng

No 18-07, Monash Economics Working Papers from Monash University, Department of Economics

Abstract: This paper presents a simple general equilibrium model of financial intermediation, entrepreneurship and economic growth. In this model, the role of financial intermediation is to pool savings and to lend the pooled funds to an entrepreneur, who in turn invests the funds in a new production technology. The adoption of the new production technology improves individual real income. Thus financial intermediation promotes economic growth through affecting individuals’ saving behaviour and enabling the adoption of a new production technology.

Keywords: financial intermediation; entrepreneurship; economic growth (search for similar items in EconPapers)
JEL-codes: D90 G21 O40 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2007
New Economics Papers: this item is included in nep-ent, nep-fdg and nep-sbm
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