Financial liberalization and intervention : a new analysis of credit rationing / Santonu Basu.

Format:

Book

Author/Creator:

Basu, Santonu, 1949-

Series:

New directions in modern economics

Language:

English

Subjects (All):

Credit control.

Credit control--Korea (South)--Case studies.

Credit control--India--Case studies.

Monetary policy.

Monetary policy--Korea (South)--Case studies.

Monetary policy--India--Case studies.

India.

Korea (South).

Genre:

Case studies.

Physical Description:

viii, 158 pages ; 23 cm.

Place of Publication:

Cheltenham, UK ; Northampton, MA : E. Elgar, [2002]

Contents:

2 A critical review of the literature on credit rationing 16

2.1 The availability doctrine 17

2.2 The ceiling on interest rates as a possible explanation for banks refusing loans to some borrowers 24

2.3 Capacity to pay does not rise in proportion to the rise in the contractual payment: an explanation of credit rationing 29

3 The theory of credit rationing revisited 39

3.2 The credit standard 41

3.3 Credit risk 47

3.4 Differential access to the loan market 53

4 Financial liberalization 64

4.2 Are savings a function of interest rate? 66

4.3 The relationship between availability of credit and investment growth 68

4.4 Is it possible to switch between projects at zero cost? 72

5 Intervention I: The South Korean experience 80

5.2 An analysis of why intervention is necessary and the form it could take 81

5.3 Where intervention went wrong 86

6 Intervention II: The Indian experience 99

6.2 The Indian government's reasons for intervention and its consequences 101

6.3 An analysis of intervention 107.

Notes:

Includes bibliographical references (pages 129-149) and index.

ISBN:

1840649658

OCLC:

48951389