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企业家能力与物质资本的结合可以促进经济增长,而这两种要素禀赋可能由不同的个体持有,因此,只有在个体间合理分配这两个要素的报酬,经济才能增长。本文给出微观机制来表明企业家能力异质的一群个体如何形成金融中介联盟,并在个体层面引进无穷期动态拉姆齐模型,个体通过优化自身的选择而促进整个社会的经济增长。我们还给出了富人扶持穷人的价格涓流效应和反哺涓流效应,来描述金融中介对经济增长以及收入分配影响的途径。
The combination of entrepreneurship and physical capital can promote economic growth, and the two endowments of natural resources may be held by different individuals. Therefore, the economy can only grow if the compensation of these two elements is rationally distributed among individuals. This paper presents a micro-mechanism to show how a group of individuals with heterogeneous entrepreneurial capabilities form a financial intermediary alliance and introduce an infinite-time dynamic Ramsey model at the individual level. Individuals promote the economic growth of the entire society by optimizing their own choices. We also give a way for the rich to support the price trickle and the trickle-trickle of the poor to describe the impact of financial intermediation on economic growth and income distribution.