We use a unique firm-level survey database compiled by the World Bank to examine the drivers of discouraged small businesses in various developing economies around the world. We confirm that older and larger firms are less likely to be discouraged and that the level of competition and the...

Helena Maria Krebs analyzes equilibrium credit rationing when banks compete for loans and deposits in a double-sided Bertrand game. Borrowers and lenders are allowed to switch market sides. Thus, investors do not only base their decisions on loan rates, but also on opportunity costs in the form...