Hidden Bibliographic Details
| Other authors / contributors: | Verdier, Thierry.
International Monetary Fund. Research Department.
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| ISBN: | 1282391992
9781282391994
9781451910643
1451910649
1462357857
9781462357857
1452776369
9781452776361
9786613820426
6613820423
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| Notes: | "March 2007."
At head of title: Research Department.
Includes bibliographical references (pages 54-57).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | We model an economy in which domestic banks and firms face incentive constraints, as in Holmstrom and Tirole (1997). Firms borrow from banks and uninformed investors, and can collude with banks to reduce the intensity of monitoring. We study the general equilibrium effects of capital flows (portfolio investments and loans, FDI) on the governance of domestic banks. We find that liberalization of capital flows may deteriorate the governance of the domestic financial system by increasing firms' incentives to collude with banks, with negative effects on productivity. We also show that systemic bailout guarantees increase the risks of collusion.
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| Other form: | Print version: Tressel, Thierry. Financial globalization and the governance of domestic financial intermediaries. Washington, D.C. : International Monetary Fund, ©2007
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| Standard no.: | 10.5089/9781451910643.001
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