Lending Booms And Lending Standards  

Oleh:

Dell'ariccia, Giovanni ; Marquez, Robert

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 61 no. 5 (Okt. 2006), page 2511-2546.
Topik: LENDING; studies; commercial banks; strategic planning; macro economics; commercial credit
Fulltext: p 2511.pdf (232.76KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

We examine how the informational structure of loan markets interacts with banks' strategic behavior in determining lending standards, lending volume, and the aggregate allocation of credit. We show that, as banks obtain private information about borrowers and information asymmetries across banks decrease, banks may loosen their lending standards, leading to an equilibrium with deteriorated bank portfolios, lower profits, and expanded aggregate credit. These lower standards are associated with greater aggregrate surplus and greater risk of financial instability. We therefore provide an explanation for the sequence of financial liberalization, lending booms and banking crises observed in many emerging markets.

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