The Role of Credit Markets in a Transition Economy with Incomplete Public Information

The Role of Credit Markets in a Transition Economy with Incomplete Public Information
In this paper we explore some of the informational problems that constrain the development of credit markets in transition economies. We characterize investment patterns under uncertainty and high costs of entry, when agents learn about the ultimate value of enterprises through production in a Bayesian way. Inefficiencies due to the lack of... READ MORE...

Publication date: February 1996
ISBN 9781451922776
$15.00

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