Income inequality and credit markets

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cepal.bibLevelSección o Parte de un Documento
cepal.callNumberX/C 22(105/2011)
cepal.callNumberLC/G.2508-P
cepal.callNumberCEPAL Review no.105 Dec 2011
cepal.docTypeRevistas
cepal.idSade46368
cepal.physicalDescriptiongráficos., tablas.
cepal.topicEngINCOME DISTRIBUTION
cepal.topicEngPUBLIC INCOME AND EXPENDITURE
cepal.topicSpaDISTRIBUCIÓN DEL INGRESO
cepal.topicSpaINGRESOS Y GASTOS PÚBLICOS
cepal.workareaEngSTATISTICS
cepal.workareaSpaESTADÍSTICAS
dc.contributor.authorFigueroa, Aldo
dc.date.accessioned2014-01-02T18:45:49Z
dc.date.available2014-01-02T18:45:49Z
dc.date.issued2011-12
dc.descriptionIncludes bibliography
dc.description.abstractThree empirical regularities have been identified in the financialliterature: bank credit markets operate with collateral, they operate withexcess demand and they coexist with other forms of credit provision. Inthe particular case of less developed countries, the financial structurecomprises the banking industry, the formal non-banking industry andthe informal sector. This paper presents a theoretical model that explainsall three regularities together. According to the model, wealth inequalityin society is the essential factor that explains this dual-dual financialstructure. The model predicts market segmentation: the wealthy and thebanks constitute one market, the less wealthy and formal non-bankingorganizations constitute another and the poorest groups and small lendersconstitute the informal sector; moreover, credit is more expensive inthe latter sectors. As long as wealth inequality remains unchanged, thisfinancial structure will prevail. The public policy implications of the modelare also presented.
dc.formatTexto
dc.format.extentpáginas. 37-51
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/G.2508-P
dc.identifier.urihttps://hdl.handle.net/11362/11536
dc.language.isoeng
dc.physicalDescriptiongrafs., tabls.
dc.physicalDescriptionp. 37-51
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo105
dc.relation.isPartOfSeriesCEPAL Review
dc.rights.coarDisponible
dc.subject.unbisEngINCOME
dc.subject.unbisEngINCOME DISTRIBUTION
dc.subject.unbisEngBANKERS' COMMERCIAL CREDITS
dc.subject.unbisEngBANK DEPOSITS
dc.subject.unbisEngMARKETS
dc.subject.unbisEngFINANCIAL SERVICES
dc.subject.unbisEngBANKS
dc.subject.unbisEngFINANCIAL INSTITUTIONS
dc.subject.unbisEngINFORMAL SECTOR
dc.subject.unbisSpaINGRESOS
dc.subject.unbisSpaDISTRIBUCION DEL INGRESO
dc.subject.unbisSpaCREDITOS COMERCIALES BANCARIOS
dc.subject.unbisSpaDEPOSITOS BANCARIOS
dc.subject.unbisSpaMERCADOS
dc.subject.unbisSpaSERVICIOS FINANCIEROS
dc.subject.unbisSpaBANCOS
dc.subject.unbisSpaINSTITUCIONES FINANCIERAS
dc.subject.unbisSpaSECTOR INFORMAL
dc.titleIncome inequality and credit markets
dc.type.coarrevista
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