Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan
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This study examines the misallocation of credit in Japan associated with the perverse incentives of banks to provide additional credit to the weakest firms. Firms are far more likely to receive additional credit if they are in poor financial condition, and these firms continue to perform poorly
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美国国家经济研究局创建时间：
2003-04-01
