Jump to ContentJump to Main Navigation
The Role of Government in East Asian Economic DevelopmentComparative Institutional Analysis$
Users without a subscription are not able to see the full content.
The Role of Government in East Asian Economic Development: Comparative Institutional Analysis

Masahiko Aoki, Hyung-Ki Kim, and Masahiro Okuno-Fujiwara

Print publication date: 1998

Print ISBN-13: 9780198294917

Published to Oxford Scholarship Online: January 2007

DOI: 10.1093/acprof:oso/9780198294917.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 17 April 2021

Financial Restraint: Toward a New Paradigm

Financial Restraint: Toward a New Paradigm

Chapter:
(p.163) 6 Financial Restraint: Toward a New Paradigm
Source:
The Role of Government in East Asian Economic Development
Author(s):

Thomas Hellmann

Kevin Murdock

Joseph Stiglitz (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198294917.003.0006

This chapter introduces the new concept of financial restraint: a set of financial policies that create rent opportunities in the banking and production sectors. It is argued that these rents may curtail a bank’s moral hazard behaviour and enhance incentives for monitoring and savings mobilization. Consequently, more efficient credit allocation and financial deepening are induced under financial restraint than under eitherlaissez-faireor financial repression.

Keywords:   financial policy, banking sector, production sector, rents, credit allocation

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .