Credit Reporting Systems and the International Economy [Hardcover]

Margaret J. Miller (Editor)

Book Description

Publication Date: February 28, 2003 | ISBN-10: 0262134225 | ISBN-13: 978-0262134224

Credit reporting is a critical part of the financial system in most developed economies but is often weak or absent in developing countries. It addresses a fundamental problem of credit markets: asymmetric information between borrowers and lenders that can lead to adverse selection and moral hazard. The heart of a credit report is the record it provides of an individual's or a firm's payment history, which enables lenders to evaluate credit risk more accurately and lower loan processing time and costs. Credit reports also strengthen borrower discipline, since nonpayment with one institution results in sanctions with others.This book provides the first comprehensive review of credit reporting systems worldwide and documents the rapid growth in the industry. It offers empirical and theoretical evidence of the impact of credit reporting on financial markets, using examples from both developed and developing economies. Credit reporting, it shows, significantly contributes to predicting default risk of potential borrowers, which promotes increased lending activity. The book also covers the role of public policy in the development of credit reporting initiatives, including the role of public credit registries managed by central banks; and the role of legal, regulatory, and institutional factors in supporting credit reporting.

Editorial Reviews

Review

"While 'credit culture' is one of those financial-market fundamentals that is hard to define, and harder to strengthen where it is deficient, there can be little doubt that credit-reporting systems are an essential ingredient in building a stronger credit culture. Margaret Miller's book is a fascinating introduction to a multifaceted topic, providing historical, legal and policy perspectives from Europe, the United States, and Latin America. The book will be useful to the research community as well as to policymakers seeking lessons from other countries' experiences on how credit-reporting systems have been built and utilized."--Michael Gavin, Head of Latin America Research, UBS Warburg

"Margaret Miller's Credit Reporting Systems and the International Economy is the definitive work on the role personal data history plays in fueling a consumer credit economy in the world." Barry Connelly, President, Consumer Data Industry Association

"Margaret Miller's *Credit Reporting Systems and the International Economy* is the definitive work on the role personal data history plays in fueling a consumer credit economy in the world."--Barry Connelly, President, Consumer Data Industry Association

About the Author

The first comprehensive review of credit reporting systems worldwide, including their institutional forms and evidence of their impact on financial markets.

Product Details

• Hardcover: 465 pages
• Publisher: The MIT Press (February 28, 2003)
• Language: English
• ISBN-10: 0262134225
• ISBN-13: 978-0262134224
• Product Dimensions: 9.2 x 6.3 x 1.1 inches
• Shipping Weight: 1.6 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #2,218,210 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

5.0 out of 5 stars Excellent Resource on Credit Information Sharing and Financial Markets, January 17, 2009

By 

Michael Turner "President, PERC" (Chapel Hill, NC) - See all my reviews

This review is from: Credit Reporting Systems and the International Economy (Hardcover)

My organization is one of just a handful of economic policy research firms in the world focusing on financial infrastructure and its role in development. We have conducted empirical research on credit information sharing and its social and economic impact in countries around the world, and each time we turn to Dr. Miller's excellent edited volume for facts, insights, and theoretical guidance. This book has been indispensable to us in our ongoing research efforts. I highly recommend it to central bankers, and executives in the financial and credit information industries. I hope there will be a sequel!