Financial Globalization and the Governance of Domestic Financial Intermediaries /
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 (portfoli...
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| Formato: | Periódico |
| Idioma: | English |
| Publicado em: |
Washington, D.C. :
International Monetary Fund,
2007.
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| coleção: | IMF Working Papers; Working Paper ;
No. 2007/047 |
| Acesso em linha: | Full text available on IMF |