Abstract:Thanks to the deregulation of financial regulations since the 1990s, the domestic financial institutions had ever been in excessive amounts for a long time. In order to expand their business scope and market share, they often adopted a looser or simple review mechanism, which led to a decline in the asset quality of financial institutions and an upward trend in overdue loans. As a result, the credit card debt crisis caused by the information asymmetry and the derived serious social problems ensued . Under the … Show more
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