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- W51452057 abstract "For generations, economists have resorted to blaming ‘imperfections’ in the capital market for a whole host of phenomena, and institutional economists have criticized the relevance of much of traditional neo–classical analysis because of its reliance on the assumption of perfect capital markets. We agree with that criticism. We would argue, however, that economic theory should ‘explain’ institutional structures, at least those that take on the prominence that ‘capital market imperfections’ have. These are matters of more than just academic interest: if the nature of the imperfections are, in some sense, endogenous, then government policies may well affect them; they cannot simply be taken as given." @default.
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- W51452057 date "1986-09-11" @default.
- W51452057 modified "2023-10-11" @default.
- W51452057 title "Credit rationing and collateral" @default.
- W51452057 doi "https://doi.org/10.1017/cbo9780511628610.009" @default.
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