ZHANG, Yanhua - EconWPA - 2005
¡°government-bank-firm¡±, we show that the government¡¯s non-commitment and banking bailout cause inefficiency in the contact … relationship. Moreover, after introducing collusion possibility, non-commitment of the government increases the stakes, or bribes … other equilibrium where she sticks to her commitment and excludes collusion from the contract relationship. Here, collusion …