The Role of Credit Markets in a Transition Economy with Incomplete Public Information /
In this paper we explore some of the informational problems that constrain the development of credit markets in transition economies. We characterize investment patterns under uncertainty and high costs of entry, when agents learn about the ultimate value of enterprises through production in a Bayes...
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| Formato: | Periódico |
| Idioma: | English |
| Publicado em: |
Washington, D.C. :
International Monetary Fund,
1996.
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| Colecção: | IMF Working Papers; Working Paper ;
No. 1996/018 |
| Acesso em linha: | Full text available on IMF |