01987cas a2200265 a 4500 AALejournalIMF002265 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451844160 1018-5941 BD-DhAAL BD-DhAAL Bossone, Biaggio. Financial Infrastructure, Group Interests, and Capital Accumulation : Theory, Evidence, and Policy / Biaggio Bossone, Sandeep Mahajan, Farah Zahir. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (34 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This study presents a theory of financial infrastructure - or the set of rules, institutions, and systems within which agents carry out financial transactions. It investigates the effects of financial infrastructure development on financial architecture and real capital accumulation, taking into account financial-sector special interests. It shows that a more developed infrastructure promotes financial market growth, reduces the scope of traditional banking, and helps investors make more efficient investment decisions. The theory presented explains why traditional banking predominates in the early stages of economic development and becomes relatively less important as the economy develops, and why banks may retard financial sector development. The study provides evidence in support of its predictions. Mode of access: Internet Mahajan, Sandeep. Zahir, Farah. IMF Working Papers; Working Paper ; No. 2003/024 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/024/001.2003.issue-024-en.xml IMF e-Library