Essays on Banking
Published By: MIT | Published Date: June, 21 , 1991This thesis comprises three essays on various aspects of the relationship between a firm or a country and its creditor banks. The first essay focuses on a firm's choice between borrowing from banks and borrowing from arms length sources like the bond markets. The second examines the case for separating commercial and investment banking. The third explores reasons why firms and countries do not index their debts to contractible measures of their ability to pay.This thesis was submitted to the School of Management in partial fulfillment of the requirements for the degree of philosophy at the Massachusetts Institute of Technology.
Author(s): Raghuram G. Rajan | Posted on: Aug 19, 2013 | Views(654)