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Financial globalization and the governance of domestic financial intermediaries
Tressel, Thierry (Avtor), Verdier, Thierry (Avtor)

URLURL - Predstavitvena datoteka, za dostop obiščite http://www.imf.org/external/pubs/ft/wp/2007/wp0747.pdf Novo okno

Izvleček
We model an economy in which domestic banks and firms face incentive constraints, as in Holmstrom and Tirole (1997). Firms borrow from banks and uninformed investors, and can collude with banks to reduce the intensity of monitoring. We study the general equilibrium effects of capital flows (portfolio investments and loans, FDI) on the governance of domestic banks. Wefind that liberalization of capital flows may deteriorate the governance of the domestic financial system by increasing firms' incentives to collude with banks, with negative effects on productivity. We also show that systemic bailout guarantees increase the risks of collusion.

Jezik:Angleški jezik
Ključne besede:bančni sistemi, bančništvo, banke, globalizacija, denarni tokovi, management, problematika, banking systems, banking, banks, globalization, cash flows, management, problems
Vrsta gradiva:Delo ni kategorizirano (r6)
Organizacija:EF - Ekonomska fakulteta
Leto izida:2007
Založnik:International Monetary Fund
Št. strani:57 str.
Kraj:Washington
UDK:336.71
COBISS.SI-ID:17263590 Povezava se odpre v novem oknu
Število ogledov:355
Število prenosov:122
Metapodatki:XML RDF-CHPDL DC-XML DC-RDF
 
Skupna ocena:(0 glasov)
Vaša ocena:Ocenjevanje je dovoljeno samo prijavljenim uporabnikom.
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