Credit Rationing and Payment Incentives
- 1 October 1983
- journal article
- Published by Oxford University Press (OUP) in The Review of Economic Studies
- Vol. 50 (4) , 639-646
- https://doi.org/10.2307/2297766
Abstract
A model of borrowing for production is presented where default leads to exclusion from the capital market. This means contracts are enforceable, provKeywords
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