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Author Basu, Santonu, 1949-

Title Financial liberalization and intervention : a new analysis of credit rationing / Santonu Basu
Published Cheltenham ; Northampton, Mass. : E. Elgar, [2002]


Location Call no. Vol. Availability
 W'PONDS  332.7 Bas/Fla  AVAILABLE
Description viii, 158 pages ; 23 cm
Series New directions in modern economics
New directions in modern economics.
Contents 1. General Introduction -- 2. A critical review of the literature on credit rationing -- 3. The theory of credit rationing revisited -- 4. Financial liberalization -- 5. Intervention I: The South Korean experience -- 6. Intervention II: The Indian experience -- 7. Concluding remarks
Summary "This book seeks to provide a coherent explanation as to why the policies of financial liberalization and financial intervention have been unable to achieve the goal of improving the access of borrowers to the loan market, irrespective of size. This is one of the prime criteria for achieving efficiency in the operation of the loan market and its failure has resulted in increased uncertainty and financial frailty."
"Santonu Basu develops an original theory of credit rationing which provides a theoretical explanation as to why neither policy has worked. He introduces two new concepts, namely credit standard and credit risk, in order to explain why bankers ration credit to some, while quite willingly offer loans to others. He then uses these two concepts to show why the implementation of either policy involves forcing or inducing the banking sector to relax its credit standard requirements. This in turn increases credit risk to an unprecendented level, thereby engendering either financial crisis or financial fragility. The author employs empirical evidence from both India and South Korea to demonstrate how these scenarios can unfold."
"Financial Liberalization and Intervention provides a comprehensive analysis of the uncertainty that prevails in the operation of the loan market. It will be welcomed by scholars and students of economics, policymakers, banking regulators and the financial sector as a whole."--BOOK JACKET
Bibliography Includes bibliographical references and index
Subject 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.
Genre/Form Case studies.
LC no. 2002018896
ISBN 1840649658 :