How much debtors’ punishment?

This study investigates the relationship between debtors? punishment and the credit market development. As the main goal we analyze empirically which is the optimal level of the debtors? punishment, providing the highest credit market development. Aligned with earlier theoretical findings from Dubey, Geanakoplos and Shubik (2005), we find that there is an intermediate level of debtors? punishment that maximizes the size of the private credit market.

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Year of publication:	2008-11
Authors:	Araujo, Aloisio ; Funchal, Bruno
Institutions:	Fundação Instituto Capixaba de Pesquisas em Contabilidade, Economia e Finanças (FUCAPE)
Subject:	Credit \| Bankruptcy \| Personal Bankruptcy Law

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Series:	Fucape Working Papers.
Type of publication:	Book / Working Paper
Notes:	Published in Fucape Working Papers Novembro 2008 Number 01 4 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010895916