Batini, Nicoletta; Levine, Paul; Lotti, Emanuela; Yang, Bo - 2011
, has a classical labour market, faces high credit constraints in financing investment and is less visible in terms of …, then with frictions in only the formal labour market and finally with frictions on both credit markets and the formal … labour market. Our main conclusions are first, labour and financial market frictions, the latter assumed to be stronger in …