The authors analyze the implications for crisis management of inefficient financial intermediation in a country (such as Indonesia or the Republic of Korea) where firms are highly indebted. They base their analysis on a model in which firms rely on bank credit to finance their working capital needs and loan contracts entail high state verification and enforcement costs for lenders. They find that higher volatility of output, lower productivity, or...
Voir la suite
INFORMATION
-
1999/09/30
-
Document de travail de recherche sur les politiques
-
WPS2185
-
1
-
1
-
2010/07/01
-
Financial sector inefficiencies and coordination failures : implications for crisis management
-
initial debt
TÉLÉCHARGER
RAPPORT COMPLET
Version officielle du document (peut inclure des signatures etc…)
-
Total Downloads** : 712
*La version texte est une version à reconnaissance optique de caractères non-corrigée. Cette version est fournie uniquement pour accommoder les utilisateurs disposant de connections lentes.