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Financial Deepening, Inequality, and Growth; A Model-Based Quantitative Evaluation

Townsend, Robert M.; Ueda, Kenichi - International Monetary Fund (IMF) - 2003

We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how to conduct model-based quantitative research on transitional paths. With...

Persistent link: https://www.econbiz.de/10005825597

Welfare Gains From Financial Liberalization

Ueda, Kenichi; Townsend, Robert M. - International Monetary Fund (IMF) - 2007

Financial liberalization has been a controversial issue as there is little empirical evidence for its positive effects on economic growth. However, we find sizable welfare gains, 1 to 28 percent of permanent consumption though, consistent with the literature, the gain in the economic growth is...

Persistent link: https://www.econbiz.de/10005825717

Life Expectancy and Income Convergence in the World; A Dynamic General Equilibrium Analysis

Ueda, Kenichi - International Monetary Fund (IMF) - 2008

There is world-wide convergence in life expectancy, despite little convergence in GDP per capita. If one values longer … life much more than material happiness, the world living standards may this have already converged substantially. This … among countries. A conventional GDP-based measure remains a good approximation for (non) convergence in world living …

Persistent link: https://www.econbiz.de/10005826651

Are Developing Countries Better off Spending their Oil Wealth Upfront?

Takizawa, H.; Gardner, E. H.; Ueda, Kenichi - International Monetary Fund (IMF) - 2004

We question the conventional view that it is optimal for government to maintain a stable level of spending out of oil wealth. We compare this conventional policy recommendation with one where government spends all of its oil revenues upfront, at the same rate as oil is extracted. Using a...

Persistent link: https://www.econbiz.de/10005769156

Corporate Governance Quality; Trends and Real Effects

Ueda, Kenichi; Nicoló, Gianni De; Laeven, Luc - International Monetary Fund (IMF) - 2006

This paper constructs a composite index of corporate governance quality, documents its evolution from 1994 through 2003 in selected emerging and developed economies, and assesses its impact on aggregate and corporate growth and productivity. Our investigation yields three main findings. First,...

Persistent link: https://www.econbiz.de/10005769260

Banks As Coordinators of Economic Growth

Ueda, Kenichi - International Monetary Fund (IMF) - 2006

This paper formally identifies an important role of banks: Banks competitively internalize production externalities and facilitate economic growth. I formulate a canonical growth model with externalities as a game among consumers, firms, and banks. Banks compete for deposits to seek monopoly...

Persistent link: https://www.econbiz.de/10005605189

Financial Frictions, Investment, and Institutions

Yafeh, Yishay; Ueda, Kenichi; Claessens, Stijn - International Monetary Fund (IMF) - 2010

effects of institutions on these financial frictions using a panel of 75,000 firm-years across 48 countries for the period …

Persistent link: https://www.econbiz.de/10008680276