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Persistent link: https://www.econbiz.de/10009317718
This paper offers a theory of conditionality lending in 19th century international capital markets. We argue that ownership of reputation signals by prestigious banks rendered them able and willing to monitor government borrowing. Monitoring was a source of rent, and it led bankers to support...
Persistent link: https://www.econbiz.de/10013141444
Persistent link: https://www.econbiz.de/10003994423
Persistent link: https://www.econbiz.de/10009669889
This paper offers a theory of conditionality lending in 19th century international capital markets. We argue that ownership of reputation signals by prestigious banks rendered them able and willing to monitor government borrowing. Monitoring was a source of rent, and it led bankers to support...
Persistent link: https://www.econbiz.de/10008758730
This paper offers a theory of conditionality lending in 19th century international capital markets. We argue that ownership of reputation signals by prestigious banks rendered them able and willing to monitor government borrowing. Monitoring was a source of rent, and it led bankers to support...
Persistent link: https://www.econbiz.de/10010316769