This paper documents the maturity structure of firms` debt in Ecuador and discusses how it has been affected by government intervention in credit markets and by financial liberalization. Using firm-level panel data, we then investigate the determinants of access to long-term debt. Finally, we...

This paper develops a simple dynamic general equilibrium model of an agricultural economy, in which poor farmers borrow wheat from rich farmers to invest in their land. Since wheat output is stochastic (we allow for both idiosynchratic and aggregate shocks) there may be default ex-post. The main...