Suchergebnisse

Cover -- Table of Contents -- Abstract -- I. Introduction -- II. Motivating Facts: Credit Misallocation and SOEs in Vietnam -- Dataset -- Interest Payments and SOEs -- Interest Payments and Profitability -- Loan Growth and Profitability -- III. Banking Model of Credit Misallocation -- A. Bank's Optimization and Equilibrium Behavior -- Corporate sector -- Bank's optimization problem -- Optimal deposit rate, lending rate, and NPL resolution -- B. Policy Effects of Recapitalization -- The case of partial NPL resolution ( 0 ≤ x < -- 1, the second best) -- The case of full NPL resolution (x = 1, the first best) -- C. Government Policy on Optimal Amount of Recapitalization -- IV. Conclusion and Policy Implications.