Towers of Trust

Daniel Friedman

Chapter 7 in Morals and Markets, 2008, pp 93-105 from Palgrave Macmillan

Abstract: Abstract Albania was Europe’s poorest and most isolated nation when it renounced communism in 1991. Then the new Democratic Party took over, radically reformed the economy, and touched off an economic boom. The official banking system, burdened with bad loans to Communist era enterprises, couldn’t keep pace, so financing came mainly from unofficial and unsupervised financial institutions.

Keywords: Financial Market; Asset Price; Financial Asset; Secondary Market; Short Selling (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-61498-7_8

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DOI: 10.1057/9780230614987_8

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