an effect working via bank credit. We use a unique sample of majority-owned firms that apply for credit, where only some … relatively poor business owners get easier access to credit. However, this policy also considerably increases loan amounts and de …

Using a new dataset on sectoral credit exposures covering financial and non-financial sectors in 115 economies over the …, financial crises, and slow macroeconomic recoveries: (i) corporate debt accounts for two thirds of the aggregate credit … predict crises similarly to household debt; (iii) a measure of imbalance in credit growth flowing disproportionately to some …