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Equity markets, transaction costs, and capital accumulation: An illustration.

By: Bencivenga, Valerie R; Smith, Bruce D.
Material type: materialTypeLabelBookPublisher: Washington : World Bank, 1995Subject(s): Financial Market | Financial market -- Savings. -- Financial market -- SavingsSummary: This paper examines how the level of transaction costs impacts on the volume of financial market activity and on steady state welfare.
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This paper examines how the level of transaction costs impacts on the volume of financial market activity and on steady state welfare.

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