Home > Economia e Política no Mundo > Bancos Que Não Emprestam Não É A Causa Do Problema

Bancos Que Não Emprestam Não É A Causa Do Problema

If it were the case that a substantial portion of banks are now unable to issue many new loans because of their inadequate capital, we would expect to see the healthy banks rushing in to fill the lending gap. There should be accounts of dynamic banks that are taking advantage of this once-in-a-lifetime opportunity and rapidly gaining market share. While this may be happening, there certainly have not been many accounts in the media of banks that fit this description. In other words, it does not appear to be the view among banks, including those with plenty of capital, that there are many good potential customers who are unable to borrow money. […] We know that large firms have no difficulty attracting capital at present. They can issue bonds at near record-low interest rates. They can also borrow short-term money at extraordinarily low interest rates in the commercial paper market. If small and mid-sized companies were being prevented from expanding due to their inability to raise capital then we should be seeing larger companies rushing in to take market share. Retail stores should be opening up new outlets everywhere. Factories should be rapidly increasing output and transportation companies should be rushing into new markets. Of course, we don’t see any of this happening. If anything, most large businesses are expanding at a slower rate than they did before the crisis. […] The moral of this story is that we should not think that “fixing” the banks will get us out of the downturn. The problem is that we have to generate demand

Dean Baker, “Banks failing to lend is not the problem

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(*) Agradeço ao Josh Mason por ter enviado este artigo.

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