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Information Sharing in Credit Markets: International Evidence

  • Tullio Jappelli
  • Marco Pagano

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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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. Padilla, A. Jorge & Pagano, Marco, 2000. "Sharing default information as a borrower discipline device," European Economic Review, Elsevier, vol. 44(10), pages 1951-1980, December.
  2. 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.
  3. La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert W., 1998. "Law and Finance," Scholarly Articles 3451310, Harvard University Department of Economics.
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