ریسک کل، سهمیه بندی اعتبار و انباشت سرمایه
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|49742||2003||29 صفحه PDF||سفارش دهید||13104 کلمه|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : The Quarterly Review of Economics and Finance, Volume 43, Issue 4, Autumn 2003, Pages 668–696
Financial intermediation plays an important role in the capital allocation process in developing economies. Financial markets are often subject to aggregate risk. This risk, which cannot be eliminated by diversification, can affect the fundamental viability of a financial intermediary and disrupt the capital accumulation process. The model considers a bank that faces excess demand in the loan market. The bank can ration credit by loan quality and by loan quantity. Intermediaries react to aggregate risk by being more selective in the criteria they use to screen loan applicants. The interaction of credit rationing and intermediarys default probability affects capital accumulation. The more efficient the banking system in resolving borrower default and banking failures, the more industries can be financed for a given opportunity cost.