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A note on credit market development and human capital accumulation
Ho,Wai Hong
Source PublicationMacroeconomic Dynamics
ABS Journal Level2
ISSN13651005 14698056

This paper explores the interplay between credit market development and human capital accumulation in a two-period overlapping-generations economy with asymmetric information under the assumption that young lenders channel credits to young borrowers and acquire education. We find that, at the self-selection equilibrium, lenders will allocate more time to acquire education if the cost of screening borrowers falls. Furthermore, a longer duration of lenders' schooling time suppresses borrowers' incentive to cheat thereby enabling lenders to screen less frequently. Our preliminary cross-country empirical analysis appears to support these findings.© 2013 Cambridge University Press.

KeywordCredit Market Imperfection Human Capital
URLView the original
Indexed BySSCI
WOS Research AreaBusiness & Economics
WOS SubjectEconomics
WOS IDWOS:000324551200007
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Cited Times [WOS]:4   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
AffiliationDepartment of EconomicsFaculty of Social Sciences and HumanitiesUniversity of Macau,Macao
First Author AffilicationFaculty of Social Sciences
Recommended Citation
GB/T 7714
Ho,Wai Hong. A note on credit market development and human capital accumulation[J]. Macroeconomic Dynamics,2013,17(7):1525-1541.
APA Ho,Wai Hong.(2013).A note on credit market development and human capital accumulation.Macroeconomic Dynamics,17(7),1525-1541.
MLA Ho,Wai Hong."A note on credit market development and human capital accumulation".Macroeconomic Dynamics 17.7(2013):1525-1541.
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