Financial Intermediation: The Case of German Credit Cooperatives

金融中介：德国信用合作社的案例

• 批准号: 9209685
• 负责人: Timothy Guinnane
• 金额: $ 7.68万
• 依托单位: Princeton University
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 1992
• 资助国家: 美国
• 起止时间: 1992-10-15 至 1995-03-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=9209685&HistoricalAwards=false
• 关键词: Financial; Intermediation; Case; German; Credit

Financial intermediation is crucial to the growth of any economy. Without some mechanism to match savers to investors, an economy lacks the ability to channel surplus resources to productive ends. In historical and modern economies alike, however, information and other problems have sometimes limited the ability of financial institutions to play their role in the allocation of capital. The purpose of this research is to analyze a type of financial intermediary that was extremely successful in an environment inhospitable to the methods of conventional banks; the German agricultural credit cooperatives formed during the nineteenth century. The project is designed to exploit historical sources and draw on modern economic theory to understand why these credit cooperatives were able to perform financial intermediation services for those too poor to be desirable customers for banks. This research is important because the understanding of the evolution of capital market institutions is critical to any understanding of long term economic growth and development. Also, a better understanding of the efficiency of agricultural credit co-ops may have useful implications for current policy regarding developing countries.

金融中介对任何经济体的增长都至关重要。 如果没有某种机制来匹配储蓄者和投资者， 缺乏将剩余资源用于生产的能力 形接头. 然而，在历史和现代经济中， 信息和其他问题有时限制了 金融机构发挥其作用， 资本 本研究的目的是分析一种 金融中介机构，是非常成功的， 环境不利于传统银行的方法; 德国农业信贷合作社成立于1998年， 世纪。 该项目旨在利用 历史渊源，借鉴现代经济理论， 我想知道为什么这些信用合作社能够 金融中介服务，为那些太穷， 银行的理想客户。 这项研究很重要 因为对资本市场演变的理解 制度对于任何长期的理解都至关重要 经济增长和发展。 此外，更好地了解 农业信贷合作社效率可能会对 对发展中国家现行政策的影响。