Series: IMF Working Papers
Author(s): Nelson Sobrinho
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 10 August 2017
Keywords: Agency Costs; Creditor Rights; Bankruptcy; Financial Intermediation, Agency Costs, Creditor Rights, Bankruptcy, Financial Intermediation
Using an overlapping-generations growth model featuring financial intermediation, I find that inefficiencies in technology to deal with private debt distress (bankruptcy technology), and obstacles to entrepreneursh...