A large food multinational wishes to help micro-distributors in its supply chain with the financing of a productive asset. Collaborating with the firm in Kenya, we conduct a field experiment to compare asset financing under a traditional debt contract to three alternatives that provide a greater...

"The world is encountering multiple crises - climate, droughts, floods, energy, food, and pandemics. This book is about how capitalism can fix them - how it can solve not cause them. The reason why it has caused them is that we have misconceived the nature of our capitalist system. We have...

The paper examines interrelations between corporate governance, competition and performance. Traditional theories emphasise the importance of managerial incentives and disciplining in corporate governance, and how institutional arrangements affect financing. The paper argues that ownership and...