|Title:||Essays on Financial Market Development and Economic Growth|
|Degree:||Doctor of Philosophy|
|Committee Chair:||Richard Cothren|
|Committee Members:||Randal Verbrugge, Co-Chair|
|Keywords:||Credit Markets, Growth, Asymmetric Information, Credit Rationing, Screening.|
|Date of defense:||April 28, 1998|
|Availability:||Release the entire work for Virginia Tech access only.
After one year release worldwide only with written permission of the student and the advisory committee chair.
This dissertation is a collection of essays on financial market development and economic growth. In contrast to existing literature, which considers credit for investment along, we investigate the relationship between credit market development and economic growth in the framework where both investment and consumption are financed via credit markets. The environment developed on this dissertation creates a role for each kind of credit to play. First, credit market conditions of entrepreneurs and consumers are related and depend on each other. Second, the interactions between consumers and entrepreneurs are of importance for economic growth. The models are empirically relevant, as they can explain why the effect of credit market development on economic growth appears to differ between high-income and middle- and low-income countries.
List of Attached Files
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