Impact of Institutions on Lending: Informal Constraints and Enforcement of Bank Regulation in Mongolia
Springer Science & Business Media, Oct 8, 2007 - Business & Economics - 196 pages
The surprisingly slow process of economic transformation is a well-known but not well-understood phenomenon in economies in transition (EIT). Neither mac- economic arguing nor neoclassic micro approaches turned out to provide helpful tools in explaining the barriers to transform markets and institutions. Chuluunbaatar Enkhzaya addresses the issue of economic transformation, exemplarily by looking at the Mongolian loan market. Her methodological innovation is not only to employ the New Institutional Economy but also to operationalise the degree of institutional change. This is done by using concept mapping, besides the more standard way of interviewing. It allows to identify „action regulating knowledge" governing the decision behavior of credit officers and leading to an indirect observation of informal rules like attitude to risk, perception of supervision, social and ethic commitments. Enkhzaya adds to our understanding why the enforcement of banking regulation norms has not led to an efficient allocation of resources in EIT banking systems. Besides she gives an impressive description of the actual state of the Mongolian economy.
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Table of Contents
Index of Tables
Index of Figures
unemployment a Conservative voter
The Economic and Banking Situation of Mongolia
Discrepancy between Bank Regulation Norms
Institutions Building and Adjustment of Bank Regulation
Other editions - View all
action-regulating knowledge allocation attitude to risk Bank of Mongolia bank regulation norms bank supervision bank's banking system Basel behaviour borrowers capital characterised cognitive cognitive map cognitive psychology collateral concept maps control item Credit Approval Credit Committee Credit facility credit files credit investigation Credit policy credit risk management credit solvency Data analysis diagnose economic agents EITs enforcement enterprises exchange existing financial intermediation financial organisations formal institutions Government important incentives individuals influence informal institutions informal rules institutional change Institutional Economics institutional framework institutions of lending interview knowledge fields knowledge of bankers lending process loan granting loan officers market economy mental models method microeconomic Mongolian bankers Monitoring observation planned economy procedure propositions qualitative reforms relations relationship between Bank relationship between Credit relationship between Risk Risk and Risk risk taking role sector structure sub-chapter sub-domain theory transaction costs transition Tugrug Ulaanbaatar uncertainty