We estimate the causal real economic effects of a randomized anticorruption crackdown on local governments in Brazil over the period 2003-2014. After anti-corruption audits, municipalities experience an increase in economic activity concentrated in sectors most dependent on government...

This paper investigates the effectiveness of the Federal Reserve Bank's Commercial Paper Funding Facility (CPFF) in facilitating lending from recipient banks to their relationship borrowers. I use dispersion in lender liquidity following the implementation of the CPFF to examine the change in...

This paper studies the short and long-run effects of international technology transfer on early industrial development, using evidence from the Sino-Soviet Alliance. Between 1950and 1957, the Soviet Union supported the so-called “156 technology transfer projects” in China, that involved the...

This paper studies the causal effect of technology and knowledge transfers on early industrial development. Between 1950 and 1957, the Soviet Union supported the "156 Projects" in China for the construction of technologically advanced, large-scale, capital-intensive industrial facilities. We...

This paper studies the causal effect of technology and knowledge transfers on early industrial development. Between 1950 and 1957, the Soviet Union supported the “156 Projects” in China for building technologically advanced industrial facilities. We exploit idiosyncratic delays in project...