High interest rates, spreads, and the costs of intermediation : two studies
High interest rates, spreads, and the costs of intermediation : two studies
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高利率、利差和中介成本：两项研究
DOI：
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发表时间：
1986
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通讯作者：
James A de Rezende Rocha Roberto Hanson
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作者：
James A de Rezende Rocha Roberto Hanson
高利率已成为工业化国家和发展中国家的一个全球性问题。在一些发展中国家，它们达到了真实的水平，甚至远远高于国际资本市场上前所未有的比率。如果要在调整期间恢复增长，这种利率会损害投资，显然需要引起注意。本书中的两篇论文分析了高真实的利率的一些原因，并提出了降低利率的一些政策选择。第一份文件概述了工业部正在进行的关于高真实的利率的工作，而第二份文件也许是对发展中国家银行业成本和利润的第一次跨国分析。这些论文的结论是，降低直接税、存款准备金率和强制投资可以大幅缩小存款利率和贷款利率之间的差距，从而大幅降低真实的贷款利率。
High interest rates have become a global concern in both the industrialized and developing countries. In some developing countries they have reached real levels far above even the unprecedented rates prevailing in international capital markets. Such rates prejudice investment and clearly require attention if growth is to be resumed during adjustment. The two papers in this volume analyze some of the causes of high real rates and suggest some policy options for bringing rates down. The first paper summarizes the Industry Department's ongoing work on high real rates while the second paper presents perhaps the first cross-country analysis of banking costs and profits in developing countries. The papers conclude that reductions in direct taxes and in reserve requirements and forced investments could reduce the gap between deposit and lending rates dramatically, and thus lower real lending rates sharply.