since 1980s, credit policy has been promoted as an important mechanism in job creation, especially for women. however, some researchers have showed that although microfinance programs have significant potential for contributing to women’s wellbeing, yet, many women borrowers have limited control over loans and/or resulted income. in such cases credit policy may not change women status. women’s ...

Within institutional economics perspective of project finance, this paper empirically examines the potential influence of factors on debt capacity in project companies when financed through bankdominated financial systems with weak legal, regulatory and political institutions. The econometric results confirm that in order to capture the potential debt capacity of project companies financed thro...

Student loans and credit card loans represent important components of young households’ portfolios in the United States. While default rates on credit card debt are at historically low levels, default rates on student loans have increased significantly in recent years. There are important institutional differences between bankruptcy arrangements and default consequences in the two markets, whic...

However, a solvent borrower may still be unwilling to repay if the benefit of defaulting is greater than the perceived cost of sanctions associated with default. The trouble for a lender is that the perceived cost of these sanctions does not just depend on the lender=s willingness to inflict them, but on the whole set of institutional arrangements that affect the credit market. This includes th...

Liquid assets play an important role in the financial system. They are generally defined as financial assets, such as cash and government securities, that can be readily used to fund payments, even in stressed market conditions. These assets are central to liquidity and credit risk management in financial markets. They are commonly used as collateral to obtain short-term funding and manage coun...

In this paper, we study the effect of legal reforms and institutional changes on credit market development and the low level of unpaid debt in the Chilean banking sector. Using time series data on yearly basis (1960-1997), we conclude that both information sharing and deep financial market liberalization during the seventies are positively related to the credit market development. Moreover, usi...

A strong dollar has been associated with lower lending to emerging markets and tighter global financial conditions. This paper documents similar patterns for credit in the U.S. economy: when broad index appreciates by 1 percent, banks’ corporate loan originations fall 4.5 banks tightening standards safer borrowers. negative correlation, which we term channel, is at least part driven institution...