El racionamiento del crédito y las crisis financieras

Jose Eduardo Gomez-Gonzalez () and Nidia Ruth Reyes ()
Additional contact information
Nidia Ruth Reyes: Universidad Externado de Colombia

Revista de Economía Institucional, 2002, vol. 4, issue 7, pages 62-75

Abstract: The idea that credit is important has gained importance in the contemporary macroeconomic theory. However, almost all the models that explicitly include financial variables in their explanation of economic behaviour continue to differentiate between the monetary and the real economy in the long run. This paper proposes a relationship between credit restrictions and financial crisis based on postkeynesian theory. In this context, credit rationalization appears as a natural phenomenon in modern capitalist economies, and not as a result of the bankers’ voluntary action will or their imperfect information due to the confidentiality of investors’ knowledge. Financial crisis are endogenous, but they can be prevented by the correct behaviour of the economic institutions.

Keywords: credit; financial crisis; postkeynesian theory; economic institutions; financial variables (search for similar items in EconPapers)
JEL-codes: E12 E44 E51 G18 (search for similar items in EconPapers)
Date: 2002
View list of references

Downloads: (external link)
http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/jgomez7.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:rei:ecoins:v:4:y:2002:i:7:p:62-75

Access Statistics for this article

Revista de Economía Institucional is edited by Alberto Supelano

More articles in Revista de Economía Institucional from Universidad Externado de Colombia - Facultad de Economía
Address: Cra. 1 No. 12-68 Casa de las Mandolinas
Contact information at EDIRC.
Series data maintained by Carolina Hernández ().