Browsing by Author "Ray, Tridip"

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Bank-based versus Market-based Financial Systems: A Growth-theoretic Analysis

Chakraborty, Shankha; Ray, Tridip (University of Oregon, Dept. of Economics, 2003-02-01)

We study bank-based and market-based financial systems in an endogenous growth model. Lending to firms is fraught with moral hazard as owner-managers may reduce investment profitability to enjoy private benefits. Bank ...
The Development and Structure of Financial Systems

Chakraborty, Shankha; Ray, Tridip (University of Oregon, Dept. of Economics, 2003-11-01)

We introduce monitored bank loans and non-monitored tradeable securities as sources of external finance for firms in a dynamic general equilibrium model. Due to frictions arising from moral hazard, access to credit and ...
Inequality, Industrialization and Financial Structure

Chakraborty, Shankha; Ray, Tridip (University of Oregon, Dept. of Economics, 2003-01-01)

We introduce monitored bank loans and non-monitored tradeable securities as sources of external finance for firms in a dynamic general equilibrium model. Due to frictions arising from moral hazard, access to credit and ...