Financial Globalization and the Governance of Domestic Financial Intermediaries

Financial Globalization and the Governance of Domestic Financial Intermediaries
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... READ MORE...

Publication date: March 2007
ISBN 9781451866117
$18.00

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