Credit Reporting Systems and the International Economy Margaret J. Miller

ISBN: 9780262134224

Published: February 28th 2003

Hardcover

453 pages


Description

Credit Reporting Systems and the International Economy  by  Margaret J. Miller

Credit Reporting Systems and the International Economy by Margaret J. Miller
February 28th 2003 | Hardcover | PDF, EPUB, FB2, DjVu, talking book, mp3, ZIP | 453 pages | ISBN: 9780262134224 | 8.51 Mb

Credit reporting is a critical part of the financial system in most developed economies but is often weak or lacking in developing countries. It addresses a fundamental problem of credit markets: asymmetric information between borrowers and lendersMoreCredit reporting is a critical part of the financial system in most developed economies but is often weak or lacking in developing countries.

It addresses a fundamental problem of credit markets: asymmetric information between borrowers and lenders that can lead to adverse selection and moral hazard. The heart of a credit report is the record it provides of an individuals or a firms payment history, which enables lenders to evaluate credit risk more accurately and lower loan processing time and costs.

Credit reports also strengthen borrower discipline, since nonpayment with one institution results in sanctions with others.



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