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Market Discipline
Mr.Timothy D. Lane
出版International Monetary Fund, 1992-06-01
主題Business & Economics / Finance / Financial Risk ManagementBusiness & Economics / Public FinanceBusiness & Economics / Banks & Banking
ISBN14518461509781451846157
URLhttp://books.google.com.hk/books?id=4lEYEAAAQBAJ&hl=&source=gbs_api
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註釋Under what circumstances can market forces prevent unsustainable borrowing? Effective market discipline requires that capital markets be open, that; information on the borrower’s existing liabilities be readily available, that no bailout be anticipated, and that the borrower respond to market signals. This paper explores the implications of these conditions, and reviews some relevant empirical evidence.