OECD Economics Department Working Papers
The views expressed in these papers are those of the author(s) and do not necessarily reflect those of the OECD or of the governments of its member countries.
- ISSN: 18151973 (online)
- https://doi.org/10.1787/18151973
Deregulation, Credit Rationing, Financial Fragility and Economic Performance
This paper is one of four in this Working Paper Series, focusing on financial liberalisation, along with those of Miller and Weller, Kupiec and Blundell-Wignall and Browne. Its main purpose is to evaluate the imperfections still affecting deregulated credit markets. In particular, the paper examines the extent to which rationing continues to be present in credit markets and its implications for credit allocation and the transmission of monetary policy. In addition, the role of deregulation in financial market fragility and instability and its macroeconomic consequences are discussed ...
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