A PEDAGOGICAL TOOL FOR ILLUSTRATING THE REAL IMPACT OF THE FINANCIAL SECTOR

Yuan K. Chou

No 888, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: We devise a simple way of incorporating the financial sector into a growth model that is useful pedagogically. Financial innovation raises the efficiency of financial intermediation, which facilitates capital accumulation. The model may be extended to include real R&D as a symbiotic source of endogenous growth.

Keywords: Financial innovations; economic growth (search for similar items in EconPapers)
JEL-codes: G20 O41 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2003
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Citations: View citations in EconPapers (1)

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