In most developing countries, relatively little mortgage credit is supplied voluntarily, mainly because of the high transaction costs associated with enforcing contracts. In most countries, the supply of mortgage credit is restrained more by the cost of post-contract governance than by the cost of producing contracts. This distinction is important because before-contract costs are dictated by technological conditions - that is, the nature of the production...
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详细
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1989/12/31
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政策研究报告
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WPS347
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1
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1
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2010/07/01
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Housing finance in developing countries : a transaction cost approach
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Housing