haku: @author Uhlig, H. / yhteensä: 8
viite: 2 / 8
Tekijä: | Gersbach, H. Uhlig, H. |
Otsikko: | On the coexistence of banks and markets |
Lehti: | Scandinavian Journal of Economics
2007 : VOL. 109:2, p. 225-243 |
Asiasana: | financial intermediaries banks markets regulations moral hazard adverse selection debt |
Kieli: | eng |
Tiivistelmä: | This study explores the coexistence (hereafter as: coext.) of banks and financial markets (here as: fin-mkts.) by studying a credit market where investment projects' qualities are not observable and with no contractible enterpreneurs' investment decisions etc. The coext. of fin-mkts. and standard banks is socially inefficient. The same inefficiency may occur with the entrance of sophisticated banks, operating with rating and ongoing monitoring technologies. |
SCIMA