Imperfect Information and Credit Rationing Equilibrium: Evidence from Egypt

El-Shazly Alaa
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El-Shazly Alaa: Department of Economics, Cairo University

Review of Middle East Economics and Finance, 2005, vol. 3, issue 2, 59-72

Abstract: This paper investigates the empirical significance of the concept of credit rationing equilibrium. The evidence from a disequilibrium model of the credit market with application to Egypt provides support for this concept. In particular, loan supply is not found an increasing function of the return on intermediated credit. Also, expectations on the state of the economy appear to explain the changing pattern of credit rationing over time.

Keywords: Imperfect information; Loan contracts; Credit rationing equilibrium (search for similar items in EconPapers)
Date: 2005
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DOI: 10.2202/1475-3693.1039

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