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2005 | 53 | 4 | 383-398
Article title

THE COMPARISON OF CREDIT SUBSIDIES AND GUARANTEES IN TRANSITION AND POST-TRANSITION ECONOMIES

Authors
Title variants
Languages of publication
EN
Abstracts
EN
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.
Keywords
Contributors
  • K. Janda, Ustav slovenskej a svetovej ekonomiky SAV, Sancová 56, 811 05 Bratislava 1, Slovak Republic
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
06SKAAAA00882116
YADDA identifier
bwmeta1.element.83cd7adf-e2e4-31f4-a3a7-b3f76b7c55cb
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