Authors
Arturo Galindo, Alejandro Micco, Guillermo Ordoñez, Arturo Bris, Andrea Repetto
Publication date
2002/10/1
Journal
Economia
Volume
3
Issue
1
Pages
231-261
Publisher
Brookings Institution Press
Description
Financial repression leads to segmented domestic financial markets in which some obtained credit (rationing) at very negative real interest rates, while non favored borrowers had to obtain funds in expensive and unstable informal credit markets. Public controls over the banking system typically led to nega tive real interest rates for depositors. Financial repression became an obstacle to domestic savings and their efficient allocation, and financial intermediation languished.
Total citations
Scholar articles
A Galindo, A Micco, G Ordoñez, A Bris, A Repetto - Economia, 2002