La asimetria de la informacion en la crisis financiera, el racionamiento del credito y la garantia como mecanismo simbiotico del sistema
[The information asymmetry in the financial crisis, credit rationing the guarantees and system simbiotic mechanism]
After the fall of Lehman Brothers and the start of the financial crisis is a break in economic activity, evidences a lack of financial attributed to information asymmetry experienced by the financial system. This paper will see how it has been analyzed by different economists this phenomenon that makes credit rationing and moral hazard. This issue is more severe because banking regulation establishes strict coverage criteria to operations that boost this exclusive effect. guarantee activity is beneficial for the entrepreneur and for financial institutions, finding common interests on them that, joined to the public sector, shape the guarantee activity as a policy that find the most effective coordination vectors between agents. However, test how the system no develops guarantee on the Spanish economy to achieve the desired volumes.
|Date of creation:||May 2012|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bernanke, Ben & Gertler, Mark, 1989. "Agency Costs, Net Worth, and Business Fluctuations," American Economic Review, American Economic Association, vol. 79(1), pages 14-31, March.
- Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
- Ivashina, Victoria, 2009. "Asymmetric information effects on loan spreads," Journal of Financial Economics, Elsevier, vol. 92(2), pages 300-319, May.
- Baltensperger, Ernst, 1978. "Credit Rationing: Issues and Questions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(2), pages 170-83, May.
- Jaffee, Dwight M & Russell, Thomas, 1984. "Imperfect Information, Uncertainty, and Credit Rationing: A Reply," The Quarterly Journal of Economics, MIT Press, vol. 99(4), pages 869-72, November.
- Liang Han & David Storey & Stuart Fraser, 2008. "The concentration of creditors: evidence from small businesses," Applied Financial Economics, Taylor & Francis Journals, vol. 18(20), pages 1647-1656.
- Kerry D. Vandell, 1984. "On the Assessment of Default Risk in Commercial Mortgage Lending," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 12(3), pages 270-296.
- Charles W. Calomiris & R. Glenn Hubbard, 1988.
"Firm Heterogeneity, Internal Finance, and `Credit Rationing',"
NBER Working Papers
2497, National Bureau of Economic Research, Inc.
- Calomiris, Charles W & Hubbard, R Glenn, 1990. "Firm Heterogeneity, Internal Finance, and 'Credit Rationing.'," Economic Journal, Royal Economic Society, vol. 100(399), pages 90-104, March.
- Liang Han & Stuart Fraser & David J. Storey, 2009. "The Role of Collateral in Entrepreneurial Finance," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 36(3-4), pages 424-455.
- Eaton, Jonathan & Gersovitz, Mark, 1981. "Debt with Potential Repudiation: Theoretical and Empirical Analysis," Review of Economic Studies, Wiley Blackwell, vol. 48(2), pages 289-309, April.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:39773. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht)
If references are entirely missing, you can add them using this form.