I present a model in which credit and outside money can be used as means of payment in order to analyze how access to … credit affects welfare when credit markets feature limited participation. Allowing more agents to use credit has an ambiguous … credit-card transactions and show that the increase in access to credit from 1990 to the near present has had a slightly …

different currencies, along with strictly positive conversion costs. A necessary condition for this is that credit market …

Credit rationing is a classical phenomenon studied for a long period but the last financial crisis put it in the news … situation. This paper tries to estimate the scale of credit rationing for French SMEs over the period 2000-2008. French SMEs …

shows the impacts of credit rationing and tightening credit conditions, even in the syndicated loans market. We investigate …

cant differences in the levels of education attained under the different colonial powers in Africa during the colonial …

imports from Africa. Despite this special treatment, however, there has been a sharp decline in Africa's global trade … participation in the last few decades. There are many factors that may explain this phenomenon. First, while on average Africa has …. Second, preferential market access conceded to Africa has often been accompanied by numerous non-tariff barriers inhibiting …

comparative measurement of the extent and features of the social mobility of men in five countries of Sub-Saharan Africa … Africa and highlights how institutions and policies shape it. …