Due to opaque information and weak enforcement in emerging loan markets, the need for collateral is high, whereas borrowers lack adequate assets to pledge as collateral. How is this puzzle solved? We find for a representative sample from Northeast Thailand that indeed most loans do not include...

Abstract Within the international competition of financial systems, Europe faces the question of whether to harmonize regulations towards a bank-oriented or a market-oriented financial system. Except the United Kingdom, all European countries have bank-based financial systems, however with large...

Vorwort -- Karl Marx’ Religionskritik: Religion als Seufzer der bedrängten Kreatur und Opium der Volks -- War Karl Marx ein politischer Denker? -- Hat nur Marx einen Bart oder auch seine Philosophie? -- Karl Marx’/Friedrich Engels’ Kritik am dialogischen Kommunismus Ludwig...