Shim, Ilhyock; Sharma, Sunil; Chami, Ralph - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-14, pp. 1-41
?s objective is to safeguard its resources and be concerned about the welfare of the borrower, an ex ante loan contract is more … likely to create the right incentives than an ex post loan contract. Such contracts highlight the need for precommitment to …