%0 Journal Article
%T Financial Contract and the Locality of Informal Financial Market<br>金融契约与民间金融市场的局部性
%A Luo Deming
%A Xi Xican
%A <br>罗德明
%A 奚锡灿
%J 浙江大学学报(人文社会科学版)
%D 2010
%I 
%X This paper proposes an incomplete financial contract model and studies what factors affect the financing and locality of an informal financial market.We show that the size of an informal financial market increases with the entrepreneur's initial wealth,project's technological efficiency,probability of success of a good project,outside investor's wealth,and local factors like social conventions,culture and norms.The size decreases under a risk-free interest rate,or when a project's funds can be easily divert...
%K financial contract
%K the locality of informal financial market
%K the free-rider problem<br>金融契约
%K 民间金融市场的局部性
%K "免费搭车"问题
%U http://www.alljournals.cn/get_abstract_url.aspx?pcid=01BA20E8BA813E1924CB483152CA50D4FC5BD3CBB47B847F&cid=585D04A2453D8AD5DDFFE8BE5B16E24C&jid=D60DCFE5A8F7BD187924CADC70161E70&aid=D52E30BA902C2BA6CC33D62CC4CFDF2C&yid=140ECF96957D60B2&vid=1371F55DA51B6E64&iid=0B39A22176CE99FB&sid=04445C1D2BDA24EE&eid=D5C9DC4EF2F78008&journal_id=1008-942X&journal_name=浙江大学学报(人文社会科学版)&referenced_num=0&reference_num=41