Village-level economy is not only the important foundation for promoting grass-roots agricultural and rural modernization, but also an essential guarantee for sustainable development of small scale economy of rural farmer households. Research on this field will play a significant role in rural...

The capital structure of an enterprise represents one of the most debated subjects in theoretical and applied finance. In the current period of deep financial disturbances at macro and microeconomic levels, capital owners select investment with much more attention, by comparing the dividend...

This article examines the profound structural changes that have taken place in the Spanish banking market over the course of the financial crisis and their potential effects on the channels by which the Spanish economy is financed. In particular, it asks whether the generation of internal...

This paper studies the link between credit conditions and formalization in Brazil, as both credit and the rate of formalization have notably increased in the last decade. A firm dynamics model with endogenous formal and informal sectors is developed to quanti- tatively evaluate how much of the...

Data from 135 countries covering five decades suggests that creditless recoveries, in which the stock of real credit does not return to the pre-crisis level for three years after the GDP trough, are not rare and are characterised by remarkable real GDP growth rates: 4.7 percent per year in...

Data from 135 countries covering five decades suggests that creditless recoveries, in which the stock of real credit does not return to the pre-crisis level for three years after the GDP trough, are not rare and are characterised by remarkable real GDP growth rates: 4.7 percent per year in...