出版社：Faculdade de Administra??o, Contabilidade e Economia, Pontifícia Universidade Católica do Rio Grande do Sul
摘要：This paper shows theoretical arguments of the New
Institutional Economics related to state interventions in the developing
countries financial markets, through development banks
and directed credit programs. The main conclusions are: (1) in the
presence of inefficient rationing caused by information asymmetries
in the private markets there is a potential role for the state in
the financial markets, to reduce the effects of information problems;
(2) state policies implemented through institutional arrangements
similar to internal organizations which are able to reduce the
transaction costs and improve capital allocation when compared
to private financial markets, are more likely to succeed.
关键词：Financial markets. Information asymmetries. Transaction
costs. Economic development.
