Foreign Debt Flows and the Credit Market: A Principal Agent Approach
نویسندگان
چکیده
منابع مشابه
Agency Cost of Debt and Credit Market Competition: a Bargaining Approach
This paper studies the effect of credit market competition, measured by the bargaining power of banks, on the agency costs of debt finance. The threshold of obtaining loan finance is shown to be independent of the relative bargaining power of the financier, while intensified credit market competition leads to lower lending rates and investment return distributions with lower, but less risky ret...
متن کاملIntegration of Polish Equity and Debt Securities Market with Foreign Market and Economic Growth in Poland
The research results which are presented in this paper aimed to verify the theory which claims that there is a significant relationship between financial market integration on international scale, financial development and economic growth. Our research focused not on the entire financial market but on the segment of equity securities (shares and investment certificates) and debt securities (cor...
متن کاملIntegration of Polish Equity and Debt Securities Market with Foreign Market and Economic Growth in Poland
The research results which are presented in this paper aimed to verify the theory which claims that there is a significant relationship between financial market integration on international scale, financial development and economic growth. Our research focused not on the entire financial market but on the segment of equity securities (shares and investment certificates) and debt securities (cor...
متن کاملthe relationship between language and social capital in ilami kurdish: a sociopragmatic approach
چکیده زبان به عنوان یک وسیله در ایجاد و بازسازی سرمایه اجتماعی در چند دهه گذشته مورد توجه بوده است. اگر چه درباره سرمایه اجتماعی و سازه های مربوط به آن زیاد نوشته شده است ولی خیلی کم بر روی اینکه چطور زبان می تواند باعث ایجاد اعتماد یا بی اعتمادی بشود مطالعه ای انجام شده است. این مطالعه به منظور تحقق دو هدف انجام گرفته است. اول تلاش خواهد شد تا یک گونه شناسی از واژگانی که مردم کرد زبان شهر ا...
15 صفحه اولCredit Card Debt Puzzles
Two thirds of US households hold bank type credit cards, and most of them revolve high-interest card debt. Standard models cannot account for the observed co-existence of such debt with (i) substantial asset accumulation by retirement age, and (ii) substantial holdings of low-rate liquid assets. Hyperbolic discounting can resolve the former but not the second puzzle (Laibson, et al., 2000). Ber...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Ensayos sobre Política Económica
سال: 2014
ISSN: 0120-4483
DOI: 10.1016/s0120-4483(14)70021-1