This paper extends the costly enforcement model of optimal financing to the case of investment projects financed by several lenders when the legal and economic situation in the emerging market economy does not allow for commitment to contracts and for securitization of credit contracts through...

Imperfect information in the monopolistic credit market could lead to the rejection of credit provision to some applicants for credit. The choice of which class of borrowers is rejected credit depends on the relations among some characteristics of borrowers. The inefficiency of credit market...

This paper deals with government interventions in agricultural credit markets in the Czech Republic. I first describe the institutional setting and the empirics of agricultural credit in the Czech Republic. I explain the activities of the Czech Agricultural Guarantee Fund and compare it with...

The development of an international trade during the last few years have shown, that there exist substantial impediments to the good trade performance of the East and Central European countries. These problems are both of an internal economic policy nature and of an international trade policy...