| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7270 |
| DP7270 Strategic Experimentation with Poisson Bandits | |
| Sven Rady; R Godfrey Keller | |
| 发表日期 | 2009-04-19 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | This paper explores the consequences of creating and improving property rights so that fixed assets can be used as collateral. This has become a cause célèbre of Hernando de Soto whose views are influential in debates about policy reform concerning property rights. Hence, we refer to the economic impact of such reforms as the de Soto effect. We explore the logic of the argument for credit contracts, both in isolation, and in market equilibrium. We show that the impact will vary with the degree of market competition. Where competition is weak, it is possible that borrowers will be worse off when property rights improve. We discuss the implications for optimal policy and the political economy of policy reform. |
| 主题 | Development Economics |
| 关键词 | Hernando de soto Collateral Credit markets |
| URL | https://cepr.org/publications/dp7270 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536107 |
| 推荐引用方式 GB/T 7714 | Sven Rady,R Godfrey Keller. DP7270 Strategic Experimentation with Poisson Bandits. 2009. |
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