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Information Sharing in Credit Markets: International Evidence

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  • Tullio Jappelli
  • Marco Pagano

Abstract

Theory predicts that information sharing among lenders attenuates adverse selection and moral hazard, and can therefore increase lending and reduce default rates. We construct a new international data set on credit bureaus and public credit registers. The theoretical predictions are broadly consistent with our data. We also study why central banks often supplement private arrangements by creating public credit registers and distribution of information about borrowers` credit histories. Public intervention is more likely where creditor rights are poorly protected and private arrangements have not arisen spontaneously.

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Bibliographic Info

Paper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 3069.

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Date of creation: Jun 1999
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Handle: RePEc:idb:wpaper:3069

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  1. La Porta, Rafael & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1997. " Legal Determinants of External Finance," Journal of Finance, American Finance Association, vol. 52(3), pages 1131-50, July.
  2. A. Jorge Padilla & Marco Pagano, 1996. "Sharing Default Information as a Borrower Discipline Device," Papers 0073, Boston University - Industry Studies Programme.
  3. Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, . "Law and Finance," Working Paper 19451, Harvard University OpenScholar.
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Cited by:
  1. Ricardo Hausmann & Eduardo Fernández-Arias, 2000. "¿Qué hay de malo con los mercados financieros internacionales?," Research Department Publications 4226, Inter-American Development Bank, Research Department.
  2. Arturo Galindo & Fabio Schiantarelli, 2002. "Credit Constraints in Latin America: An Overview of the Micro Evidence," Research Department Publications 3165, Inter-American Development Bank, Research Department.
  3. Eduardo Fernández-Arias & Ricardo Hausmann, 1999. "Iniciativas internacionales para darle estabilidad a la integración financiera," Research Department Publications 4175, Inter-American Development Bank, Research Department.
  4. Ricardo Hausmann & Eduardo Fernández-Arias, 2000. "What's Wrong with International Financial Markets?," Research Department Publications 4225, Inter-American Development Bank, Research Department.
  5. Arturo Galindo & César Calderón & Alberto E. Chong, 2001. "Structure and Development of Financial Institutions and Links with Trust: Cross-Country Evidence," IDB Publications 6482, Inter-American Development Bank.
  6. Atilano Jorge Padilla & Alejandro Requejo, 2000. "The Cost and Benefits of the Strict Protection of Creditor Rights: Theory and Evidence," Research Department Publications 3084, Inter-American Development Bank, Research Department.
  7. Eduardo Fernández-Arias & Ricardo Hausmann, 2000. "The Redesign of the International Financial Architecture from a Latin American Perspective: Who Pays the Bill?," Research Department Publications 4245, Inter-American Development Bank, Research Department.
  8. Rona-Tas, Akos & Guseva, Alya, 2013. "Information and consumer credit in Central and Eastern Europe," Journal of Comparative Economics, Elsevier, vol. 41(2), pages 420-435.
  9. Eduardo Fernández-Arias & Ricardo Hausmann, 1999. "International Initiatives to Bring Stability to Financial Integration," IDB Publications 6454, Inter-American Development Bank.
  10. Arturo Galindo & Fabio Schiantarelli, 2002. "Limitaciones crediticias en América Latina: panorámica general de los elementos de juicio al nivel micro," Research Department Publications 4306, Inter-American Development Bank, Research Department.
  11. Eduardo Fernández-Arias & Ricardo Hausmann, 2000. "El rediseño de la arquitectura financiera internacional desde la perspectiva latinoamericana: ¿quién paga la cuenta?," Research Department Publications 4246, Inter-American Development Bank, Research Department.
  12. Armando Castelar Pinneiro & Célia Cabral, 1999. "Credit Markets in Brazil: The Role of Judicial Enforcement and Other Institutions," Research Department Publications 3066, Inter-American Development Bank, Research Department.
  13. J. Rodrigo Fuentes & Carlos Maqueira, 1999. "Institutional Arrangements to Determine Loan Repayment in Chile," Research Department Publications 3073, Inter-American Development Bank, Research Department.
  14. Verónica Balzarotti & Alejandra Anastasi, 2013. "Does Competition for Novice Borrowers Hurt Access to Finance? An Analysis in a Context of High Risk and Low Outreach," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, vol. 1(69), pages 101-149, December.
  15. Arturo Galindo & Alberto Chong & César Calderón, 2001. "Estructura y desarrollo de instituciones financieras y su relación con la confianza: elementos de juicio de varios países," Research Department Publications 4252, Inter-American Development Bank, Research Department.

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