Using firm-level data from the World Bank Enterprise Surveys, covering 159 countries from 2006 to 2023, we examine whether past informality affects the credit constraints of registered firms. Estimations, based on the entropy balancing method, indicate that registered firms that began operations...

This study assesses dynamics of openness and finance in Africa by integrating financial development dynamics of depth, activity and size in the assessment of how financial, trade, institutional, political and other openness policies (of second generation structural and institutional reforms)...

Using a large firm-level dataset from the World Bank Enterprise Surveys, which covers 134 countries from 2006 to 2023 and includes over 134,000 observations, we examine whether past informality affects the credit constraints of registered firms. Estimations, based on the entropy balancing...

This paper investigates the complex interplay of factors contributing to credit risk in developing countries. Focusing on borrower characteristics, we examine the interconnected roles of income levels, employment stability, and credit history. The analysis reveals how lower income, volatile...

This paper investigates the complex interplay of factors contributing to credit risk in developing countries. Focusing on borrower characteristics, we examine the interconnected roles of income levels, employment stability, and credit history. The analysis reveals how lower income, volatile...

Over the past four decades, developing countries have not been immune to international financial changes. Today, the destabilizing effects of financial liberalization are affecting even developed economies. This paper reviews the theoretical foundations and the different relationships between...

In the last two decades, the Costa Rican rural areas have been under considerable transformations. The changes occurred in the international context and the reorientation of the economic policies executed in the country, provoked the loom up of a more diverse productive structure and the...

The present paper develops a model of vertical linkage between the formal and informal credit markets highlighting the presence of corruption in the distribution of formal credit. The existing moneylender, the bank official and the new moneylenders move sequentially and the existing moneylender...

The objective of this paper is to study the interactions between economic liberalisation, political liberalisation and financial development in African countries. More specifically, we seek to establish the impact of economic, political and institutional openness on financial deepening. The...

The social capital has strengthened the solidarity funds when the legal mechanisms and institutions for monitoring and assistance would not have been present. The aim of this paper is to analyze the effect of social capital on productivity and performance of the Mexican solidarity funds. For...