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Book Categories |
| List of figures | ||
| Introduction | 1 | |
| Ch. 1 | Credit Rationing and Asymmetric Information | 7 |
| 1.1 | A Definition of Credit Rationing | 7 |
| 1.2 | Building a Generalised Model | 8 |
| 1.3 | The Optimal Financial Contract | 17 |
| Ch. 2 | The Hypothesis of Ex-ante Asymmetric Information | 21 |
| 2.1 | Interest Rates as a Screening Device: The Adverse Selection Effect | 27 |
| 2.2 | Interest Rates as an Incentive Mechanism: The Adverse Incentive Effect | 34 |
| 2.3 | Collateral Requirements and the Debt/Equity Ratio as a Screening Device: The Adverse Selection Effect | 39 |
| 2.4 | Collateral Requirement and the Debt/Equity Ratio as an Incentive Mechanism: The Adverse Incentive Effect | 42 |
| 2.5 | Interest Rate and Collateral as a Self Selection Mechanism | 44 |
| 2.6 | Interest Rate and Debt/Equity Ratio as a Self Selection Mechanisms | 47 |
| 2.7 | Ex-ante Asymmetric Information and an Investment in the Screening Process | 49 |
| 2.8 | Ex-ante Asymmetric Information and the Lender's Expected Utility | 54 |
| Ch. 3 | The Hypothesis of Ex-post Asymmetric Information | 61 |
| 3.1 | Monitoring Costs | 64 |
| 3.2 | Ex-post Asymmetric Information and the Lender's Expected Utility | 68 |
| Ch. 4 | Asymmetric Information and Credit Rationing | 73 |
| 4.1 | The Model's Assumptions | 74 |
| 4.1.1 | The Case of Competitive Banks | 75 |
| 4.1.2 | The Case of a Monopolistic Bank | 77 |
| 4.1.3 | The Case of an Oligopolistic Bank that Maximises Dimension | 80 |
| Ch. 5 | Some Implications of Asymmetric Information and Credit Rationing | 85 |
| 5.1 | Asymmetric Information, Credit Rationing and the Impact of Environmental Changes | 95 |
| 5.1.1 | The Effect of an Open Market Sale of Government Bonds | 98 |
| 5.1.2 | The Effect of an Increase in the Level of Aggregate Activity on Credit Rationing | 99 |
| 5.2 | Asymmetric Information and the Segmentation of the Credit Market | 101 |
| Conclusions | 111 | |
| Bibliography | 119 | |
| Author index | 129 | |
| Subject index | 131 |
| Price | Condition | Delivery | Seller | Action |
| $99.99 | Digital |
| WonderClub |
Shannon Marsiglia
reviewed Credit Rationing and Asymmetric Information on April 22, 2009
Credit Rationing and Asymmetric Information
If there were more people like Muhammad Yunus, then maybe his goal of stamping out poverty by 2050 will be achieved ' hell, maybe he'll be able to get Bangladesh there all on his own at the rate that he's going.
In "Creating A World Without Poverty,", Yunus talks about social businesses and the future of capitalism.
In this book, he talks about how, as Grameen Bank became more and more deeply rooted in the social conditions of the poor in Bangladesh, its mandate evolved and broadened as Yunus and his colleagues branched out from microcredit to social businesses.
This book was also partly the story of Grameen Danone came into being ' Danone, the French food products company, partnered with Grameen to produce affordable, nutritious yogurt for malnourished children in Bangladesh.
It's a fascinating case study in social business.
Also interesting: the epilogue includes a transcript of the lecture Yunus delivered in Oslo when he accepted the Nobel Peace Prize on behalf of Grameen Bank in 2006.
Definitely worth reading.
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