Agrarian Structure and Endogenous Financial System Development

Dietrich Vollrath

MPRA Paper from University Library of Munich, Germany

Abstract: The development of the financial system is shown, both historically and in contemporary data, to be adversely affected by inequality in the distribution of land. To accommodate these empirical findings, a theory is developed that highlights the incentives of landowners to oppose competition in the financial sector. The theory provides an explanation for the co-incident development of the financial sector and overall economy.

Keywords: Land Distribution; financial development; overlapping generations; financial institutions (search for similar items in EconPapers)
JEL-codes: E25 G18 N2 O4 (search for similar items in EconPapers)
Date: 2008-12-19
New Economics Papers: this item is included in nep-mac
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Related works:
Working Paper: Agrarian Structure and Endogenous Financial System Development (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:12430

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