growth of promising young firms. A model of liquidity-constrained entrepreneurs suggests that the easing of credit … would bring about. We explore this growth mechanism using a large-scale program to expand the supply of credit to small and … medium enterprises in Brazil. Local credit supply shocks generate greater firm entry but also greater exit with no effect on …

. These results connect the availability of external credit with real activity in entrepreneurial firms in a way that has …

We exploit historical and contemporaneous variation in local credit markets across Russia to identify the impact of … credit constraints on firm-level innovation. We find that access to bank credit helps firms to adopt existing products and … acquiring external know-how. We find no evidence that bank credit also stimulates firm innovation through in-house R&D. This …

This paper examines whether credit constraints affect Chinese firms' absorption of productivity spillovers from foreign … measure of credit constraints, enjoy lower (and even negative) spillovers from the activity of foreign-owned firms. This …

tightness of constraints on the domestic credit market. The results contribute to an explanation of the "Lucas paradox", i … driven by the tightness of the domestic credit market. Countries with less tight constraints or unlimited access to external …

This paper examines the relationship between the credit constraints faced by a firm and the unit value prices of its … credit constraints. The model predicts that tighter credit constraints faced by a firm reduce its optimal prices as its … choice of lower-quality products dominates the price distortion effect resulting from credit constraints. However, a …

We build a heterogeneous-firms model with firm-specific wages and credit frictions to study the role of financial …

Many countries offer state credit guarantee programs to improve access to finance for exporting firms. In the case of … detailed firm-level data and find supportive evidence: State credit guarantees in Germany increase firms' exports. This effect …

In this paper, we investigate whether foreign currency accounts help overcome credit constraints in developing … credit constraints thus appears small, and biased towards specific sectors, there is also a substantial indirect effect via …