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Passive Creditors

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  • K. SCHOORS
  • K. SONIN

Abstract

Creditors are often passive because they are reluctant to show bad debts on their own balance sheets. In transition economies this problem is particularly severe. In this note, we analyze a simple general equilibrium model, which allows to study the externality effect of creditor passivity. The model yields rich insights in the phenomenon of creditor passivity, both in transition countries and developed market economies and allows to derive policy implications to solve creditor passivity. Our model explains in what respect banks are different from enterprises as creditors and what this implies for policy. Phenomenons that are commonly observed in banking, such as deposit insurance, government coordination to work out bad loans, and special bankruptcy proceedings for banks, are explained by this.

Suggested Citation

  • K. Schoors & K. Sonin, 2003. "Passive Creditors," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 03/177, Ghent University, Faculty of Economics and Business Administration.
    • Handle: RePEc:rug:rugwps:03/177
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    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • P5 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems

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