Detragiache, Enrica; Nicoló, Gianni De; Agca, Senay - International Monetary Fund (IMF) - 2007
We study how credit market deregulation and increased international financial openness have changed corporate borrowing. The evidence comes from a large panel of publicly traded firms in 38 countries over the period 1994-2002. Reforms are measured with a comprehensive new index that tracks six...