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| Tekijä: | Chu, K. H. |
| Otsikko: | Free banking and information asymmetry |
| Lehti: | Journal of Money, Credit and Banking
1999 : NOV, VOL. 31:4, p. 748-762 |
| Asiasana: | Banking Market information Market conditions Investor protection |
| Kieli: | eng |
| Tiivistelmä: | The paper shows that in a separating equilibrium a higher-quality bank offers a lower deposit rate and holds a smaller proportion of risky loans than a lower-quality bank to signal its underlying quality. Hence, free banking is not inherently unstable. The empirical results for the Hong Kong banking system during 1984-65 are consistent with the hypothesis of a separating equilibrium. |
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