Financial Crises and Asymmetric Information: Mexican and Asian Crises

Year 2019, Issue: 112, 119 - 148, 29.10.2019

Mehmet Mete Karadağ

https://doi.org/10.33203/mfy.520519

Abstract

The problems arising from asymmetric information in financial
markets prevent the efficient functioning of these markets and prevent
financial markets from transferring funds to the most efficient investment
projects. The existence of asymmetric information, which negatively affects the efficiency and productivity of both financial and non-financial
institutions, is an important factor in economic failures and financial
crises.
In this study, the concept of asymmetric information will be discussed.
Asymmetric information factor in financial crises and its role in
crises will be evaluated. 1994 Mexico and 1997 Asian crises will be
analyzed in terms of asymmetric information.

Keywords

Asymmetric information, adverse selection, moral hazard, financial crises

Finansal Krizler ve Asimetrik Enformasyon: Asya ve Meksika Krizleri

Abstract

Finansal
piyasalarda asimetrik enformasyondan kaynaklanan sorunlar bu piyasaların etkin
bir şekilde işleyişine zarar vermekte; finansal piyasaların en verimli yatırım
projelerine kaynak aktarımını gerçekleştirmesini engellemektedir. Gerek
finansal gerekse finansal olmayan kurumların etkinliğini ve verimliliğini
olumsuz yönde etkileyen asimetrik enformasyonun varlığı, ekonomik
başarısızlıkların ve finansal krizlerin de önemli bir faktörü olarak karşımıza
çıkmaktadır.

Bu çalışmada
asimetrik enformasyon kavramı ele alınarak finansal krizlerdeki asimetrik
enformasyon faktörü ve krizlerdeki rolü değerlendirilmekte, 1994 Meksika ve
1997 Asya krizleri asimetrik enformasyon açısından incelenmektedir. 

Keywords

Asimetrik enformasyon, ters seçim, ahlaki riziko, finansal krizler

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