Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5086481 | Japan and the World Economy | 2007 | 11 Pages |
Abstract
The paper analyzes the optimal degree of credit centralization in the situation where the soft budget constraint and the debt overhang problems may occur. The paper characterizes the optimal range of credit centralization, and shows that the entrepreneur with a greater endowment or higher credit quality is likely to choose a lower degree of credit centralization.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Kenji Tsuji,