We use data from Reserve Bank of India to study the impact of India's Golden Quadrilateral (GQ) highway project on finance-dependent activity. Loan volumes increase by 20-30% in districts along GQ and are stronger in industries more dependent upon external finance. Loan growth begins with...

In 2011, the federal government accelerated payments to their small business contractors, spanning virtually every county and industry in the US. We study the impact of this reform on county-sector employment growth over the subsequent three years. Despite firms being paid just 15 days sooner,...

We study how a mortgage reform that exogenously increased access to credit had an impact on entrepreneurship, using individual-level micro data from Denmark. The reform allows us to disentangle the role of credit access from wealth effects that typically confound analyses of the collateral...

In 2011, the Federal government accelerated payments to their small business contractors, spanning virtually every county and industry in the US. We study the impact of this reform on industry-county employment growth over the subsequent three years. Despite firms being paid just 15 days sooner,...

In 2011, the federal government accelerated payments to their small business contractors, spanning virtually every county and industry in the US. We study the impact of this reform on county-sector employment growth over the subsequent three years. Despite firms being paid just 15 days sooner,...

We exploit a Danish mortgage reform that differentially unlocked home equity across the population and study how this impacts selection into entrepreneurship. We find that increased entry from the treated group was concentrated among entrepreneurs whose firms were founded in industries where...

This paper uses the construction of India's Golden Quadrangle central highway network, together with comprehensive loan data from the Reserve Bank of India, to investigate the interaction between infrastructure development and financial sector depth. The paper identifies a disproportionate...