unintended consequences on credit supply in the untreated sector. These crowding out effects increase with the loan duration in …

affects financing activities. The results reveal local government debt' s crowding-out effect on financing, particularly for … non-state-owned enterprises. Further analysis reveals that this negative impact is driven by 'passive crowding-out' rather … continuous accumulation of debt stock exacerbates the crowding-out effect, impacting overall output. These findings provide …

providing a more comprehensive understanding of the presence or absence of the crowding effect in the Brazilian economy by … crowding-in effect in Brazil over the examined period. Thus, we have empirical evidence indicating that the state has … to the existing literature by offering a more comprehensive understanding of the crowding effect in the Brazilian economy …

crowding out of voluntary cooperation even after incentives have been abolished. This crowding out occurs also in repeated … incentive-compatibility of the contract. Crowding out is mostly due to reduced wages and not a change in reciprocal wage …-effort relationships. Our systematic analysis also replicates established results on gift exchange, incentives, and crowding out of …

greater openness to the outside world can alleviate the crowding-out effect. Further, we investigate the moderating effect of … the institutional environment on the crowding-out effect. We find that market segmentation and government corruption will … aggravate the crowding-out effect while strengthening intellectual property protection, improving the trust environment, and …

crowding out of voluntary cooperation even after incentives have been abolished. This crowding out occurs also in repeated … incentive-compatibility of the contract. Crowding out is mostly due to reduced wages and not a change in reciprocal wage …-effort relationships. Our systematic analysis also replicates established results on gift exchange, incentives, and crowding out of …

, we argue, on the contrary, that markets lead to a double crowding out of moral values: first, imperfect transmission of …