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The Comparison of Credit Subsidies and Guarantees in Transition and Post-Transition Economies

In: Ekonomický časopis/Journal of Economics, vol. 53, no. 4
Karel Janda
Detaily:
Rok, strany: 2005, 383 - 398
Kľúčové slová:
transition, credit, subsidies, guarantees JEL Classification: D82, G28, P31
O článku:
We compare the welfare effects of government credit subsidies and guarantees in transition and post-transition economies in the conditions of asymmetric information. We show that the guarantees and subsidies targeted to low risk borrowers decrease efficiency while those targeted to high risk borrowers increase efficiency both in transition and post-transition economies. The uniform non-targeted guarantees improve welfare. The uniform subsidies may be used to improve welfare in the economy subjected to credit rationing, but they do not have any effect on the size of collateral required in post-transition economy.
Ako citovať:
ISO 690:
Janda, K. 2005. The Comparison of Credit Subsidies and Guarantees in Transition and Post-Transition Economies. In Ekonomický časopis/Journal of Economics, vol. 53, no.4, pp. 383-398. 0013-3035.

APA:
Janda, K. (2005). The Comparison of Credit Subsidies and Guarantees in Transition and Post-Transition Economies. Ekonomický časopis/Journal of Economics, 53(4), 383-398. 0013-3035.