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The Law and Economics of Secured Lending


ISBN13: 9781839701504
Published: June 2021
Publisher: Intersentia Publishers
Country of Publication: UK
Format: Hardback
Price: £133.00



This is a Print On Demand Title.
The publisher will print a copy to fulfill your order. Books can take between 1 to 3 weeks. Looseleaf titles between 1 to 2 weeks.

How can it be that people and businesses are ever unable to obtain credit? Why do lenders not simply increase the interest rate for high-risk borrowers? And if increased interest rates can’t solve the problem, then surely pp>the use of collateral can?

As it turns out, things are not that simple. It seems that the laws of supply and demand do not fully apply to the credit market: low interest rates attract high demand, a part of which is never met, no matter what the interest rate. What is more, excessive interest rates seem to exacerbate the problem. Common knowledge holds that security interests provide at least a part of the answer, and yet economic theory has been ambiguous about them, to say the least.

This book provides an in-depth analysis of both the general economic theory of secured lending, as well as the very concrete and detailed aspects of the legal framework in which it takes place, in Belgium and the United States. Legal practitioners will find a deeper economic understanding of how credit works, and answers to legal questions that no traditional, inside-the-box legal handbook will ever ask. Economists will find theory applied to, and checked by, the legal reality in which they necessarily operate, down to minute detail.

Subjects:
Property Law, Banking and Finance, Law and Economics
Contents:
Part I. Introduction
Chapter I. Basic Economic Problem and Search for a Legal Solution
Chapter II. Methodology
Part II. Economic Framework
Chapter I. Secured Lending Theory: Preliminary Questions on the Efficiency of Security Interests
Chapter II. Credit Rationing
Chapter III. Why is Credit Rationing a Problem?
Chapter IV. Beneficial Effects of Security Interests on Credit Rationing
Chapter V. Costs of Security Interests
Chapter VI. Normative Implications – A Functional Design of the Optimal Security Interest System
Part III. Legal Framework
Chapter I. Location in Research Methodology
Chapter II. General Principles of Bankruptcy
Chapter III. Mortgages
Chapter IV. Movables
Part IV. Conclusion
Conclusion
Bibliography