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Banken, instituties en zachte budgetbeperkingen tijdens de transitie

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Author Info
Ralph de Haas (De Nederlandsche Bank)

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Abstract

De juridische bescherming van banken en aandeelhouders beïnvloedt de omvang en kwaliteit van het financiële systeem en daarmee de economische groei. Gebrekkige (juridische) instituties in transitie-economieën kunnen de economische ontwikkeling van deze landen dan ook afremmen. Zo dragen banken die door institutionele onvolkomenheden niet in staat zijn om verlieslijdende bedrijven (her)financiering te ontzeggen bij aan het in stand houden van een inefficiënte allocatie van middelen. Zulke institutionele onvolkomenheden uiten zich onder meer in zachte budgetbeperkingen bij bedrijven. Om deze budgetbeperkingen harder te maken, zijn niet alleen juridische verbeteringen op papier nodig. Minstens zo belangrijk is dat verbeterde wetgeving effectiever wordt gehandhaafd, zodat het dreigen door banken om financiering van verlieslijdende bedrijven stop te zetten, geloofwaardig wordt.

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File URL: http://129.3.20.41/eps/fin/papers/0209/0209003.pdf
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Publisher Info
Paper provided by EconWPA in its series Finance with number 0209003.

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Date of creation: 16 Sep 2002
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Handle: RePEc:wpa:wuwpfi:0209003

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Web page: http://129.3.20.41

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Related research
Keywords: transition; institutions; soft budget constraints; banks;

Find related papers by JEL classification:
D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages
G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
P11 - Economic Systems - - Capitalist Systems - - - Planning, Coordination, and Reform
P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy

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  1. J.W.B. Bos, 2003. "Improving Market Power Tests: Does it matter for the Dutch Banking Market?," Research Series Supervision (discontinued) 56, Netherlands Central Bank, Directorate Supervision. [Downloadable!]
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