Ferreira, Caio Fonseca; Farina, Elizabeth M. M. Q. - Associação dos Centros de Pós-Graduação em … - 2005
Financial markets have become increasingly integrated throughout the world. Does this mean that local financial institutions are becoming irrelevant? We argue that due to the information asymmetries involved in credit concession and banks' role as monitors the answer is no. Motivated by...