Imperfect Information and Credit Rationing Equilibrium: Evidence from Egypt
This paper investigates the empirical significance of the concept of credit rationing equilibrium. The evidence from a disequilibrium model of the credit market with application to Egypt provides support for this concept. In particular, loan supply is not found an increasing function of the return on intermediated credit. Also, expectations on the state of the economy appear to explain the changing pattern of credit rationing over time.
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Volume (Year): 3 (2005)
Issue (Month): 2 (August)
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