The Efficacy and Efficiency of Credit Market Interventions : Evidence from the Community Reinvestment Act CRA 022 July 2002

Abstract

Economies around the world are marked by major interventions in credit markets. Institutions ranging from central banks to the Grameen Bank operate under the assumptions that credit markets are imperfect, that these imperfections can be ameliorated, and that doing so increases output. There is surprisingly little empirical support for these propositions… (More)

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