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Author Tressel, Thierry.

Title Financial globalization and the governance of domestic financial intermediaries / prepared by Thierry Tressel and Thierry Verdier
Published Washington, D.C. : International Monetary Fund, [2007]
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Description 1 online resource (57 pages) : illustrations
Series IMF working paper ; WP/07/47
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
Notes "March 2007."
At head of title: Research Department
Bibliography Includes bibliographical references (pages 54-57)
Notes 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. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Bank failures -- Econometric models.
Banks and banking -- State supervision -- Econometric models.
Capital movements -- Econometric models.
Globalization -- Econometric models.
Form Electronic book
Author Verdier, Thierry.
International Monetary Fund. Research Department.
ISBN 1282391992
1451910649 (E-Book)