Self-Fulfilling Expectations in a model of Banking and Economic Growth

H. Futamura

Working Papers from Southern California - Department of Economics

Abstract: In this paper, I analyze a quality ladder model in which innovation activities in improving the quality of intermediate inputs are financed by bank loans. It will be shown that the multiple equilibria may emerge depending on the functional form of the probability of success in innovation activities.

Keywords: ECONOMIC; GROWTH (search for similar items in EconPapers)
JEL-codes: O40 O41 (search for similar items in EconPapers)
Date: 1998

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Persistent link: http://EconPapers.repec.org/RePEc:fth:socaec:9807

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