Credit Markets in Brazil: The Role of Judicial Enforcement and Other Institutions, Chapter 5

in Defusing Default: Incentives and Institutions, Marco Pagano (Ed.)

Washington: Iteramerican Development Bank, OCDE, Johns Hopkins University Press, 2001

ISBN: 1-886938-98-9

Em co-autoria com Armando Castelar Pinheiro

Description: Access to capital is crucial for economic development. In many developing nations, however, high default rates present a serious obstacle to the creation of efficient capital markets. Defusing Default examines the problem of default in various countries throughout the Americas as well as public and private means of encouraging repayment of debts. Encompassing theoretical approaches and empirical data, with both contemporary and historical examples, the studies in this volume discuss how factors such as legal systems, judicial enforcement, and contractual arrangements affect the likel