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- Title
Financial Liberalisation in Emerging Markets: How Does Bank Lending Change?
- Authors
Hübler, Olaf; Menkhoff, Lukas; Suwanaporn, Chodechai
- Abstract
Financial liberalisation has often failed in the past due to underestimated problems of structural change. We analyse such changes in lending behaviour of Thai commercial banks during a liberalisation phase by way of unique micro data. Liberalisation has expected positive effects, such as lowering the interest rate spread and collateral requirements. Liberalisation causes structural change, such as a decline in collateral-based and relationship banking. However, the liberal-isation evidence is consistent with more risk taking, such as lending to more risky projects and less protection against default. The Thai experience suggests obvious policy lessons.
- Publication
World Economy, 2008, Vol 31, Issue 3, p393
- ISSN
0378-5920
- Publication type
Academic Journal
- DOI
10.1111/j.1467-9701.2007.01067.x