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Missallocation and Financial Frictions: Some Direct Evidence From the Dispersion in Borrowing Costs

Gilchrist, Simon; Zakrajsek, Egon; Sim, Jae W. - National Bureau of Economic Research (NBER) - 2012

Financial frictions distort the allocation of resources among productive units--all else equal, firms whose financing choices are affected by such frictions face higher borrowing costs than firms with ready access to capital markets. As a result, input choices may differ systematically across...

Persistent link: https://www.econbiz.de/10010969203

Self-Selection into Credit Markets: Evidence from Agriculture in Mali

Karlan, Dean; Udry, Christopher; Beaman, Lori; … - National Bureau of Economic Research (NBER) - 2014

We partnered with a micro‐lender in Mali to randomize credit offers at the village level. Then, in no- loan control villages, we gave cash grants to randomly selected households. These grants led to higher agricultural investments and profits, thus showing that liquidity constraints bind with...

Persistent link: https://www.econbiz.de/10010969288

Agricultural Decisions after Relaxing Credit and Risk Constraints

Karlan, Dean; Udry, Christopher; Osei, Robert Darko; … - National Bureau of Economic Research (NBER) - 2012

The investment decisions of small‐scale farmers in developing countries are conditioned by their financial environment. Binding credit market constraints and incomplete insurance can reduce investment in activities with high expected profits. We conducted several experiments in northern Ghana...

Persistent link: https://www.econbiz.de/10010969291

Financial Development in 205 Economies, 1960 to 2010

Demirguc-Kunt, Asli; Levine, Ross; Čihák, Martin; … - National Bureau of Economic Research (NBER) - 2013

This paper describes our construction of the Global Financial Development Database and uses the data to compare financial systems around the world. The database provides information on financial systems in 205 economies over the period from 1960 to 2010 and includes measures of (1) size of...

Persistent link: https://www.econbiz.de/10010969344

Quantifying Productivity Gains from Foreign Investment

Kalemli-Ozcan, Sebnem; Sorensen, Bent E.; Volosovych, Vadym - National Bureau of Economic Research (NBER) - 2013

domestic firms, we calculate the aggregate impact of foreign investment on country-level productivity growth and find it to be …

Persistent link: https://www.econbiz.de/10010969373

Seasonal Credit Constraints and Agricultural Labor Supply: Evidence from Zambia

Fink, Günther; Jack, B. Kelsey; Masiye, Felix - National Bureau of Economic Research (NBER) - 2014

Small-scale farming remains the primary source of income for a majority of the population in developing countries. While most farmers primarily work on their own fields, off-farm labor is common among small-scale farmers. A growing literature suggests that off-farm labor is not the result of...

Persistent link: https://www.econbiz.de/10010969399

Estimating the Impact of Microcredit on Those Who Take It Up: Evidence from a Randomized Experiment in Morocco

Crépon, Bruno; Duflo, Esther; Devoto, Florencia; … - National Bureau of Economic Research (NBER) - 2014

This paper reports the results from a randomized evaluation of a microcredit program introduced in rural areas of Morocco starting in 2006 by Al Amana, the country's largest microfinance institution. Al Amana was the only MFI operating in the study areas during the evaluation period. Thirteen...

Persistent link: https://www.econbiz.de/10010950654

Does Finance Cause Growth? Evidence from the Origins of Banking in Russia

Berkowitz, Daniel; Hoekstra, Mark; Schoors, Koen - National Bureau of Economic Research (NBER) - 2012

This paper examines the effect of banking on economic growth in modern Russia. To overcome simultaneity and selection … uncorrelated with 15 predictors of future growth, including pre-banking income, education, anti-market sentiment, institutional …. Additional results indicate that spetsbanks increased growth in regions in which they were less connected to government and were …

Persistent link: https://www.econbiz.de/10010950715

Patent Collateral, Investor Commitment, and the Market for Venture Lending

Serrano, Carlos J.; Hochberg, Yael V.; Ziedonis, … - National Bureau of Economic Research (NBER) - 2014

The use of debt to finance risky entrepreneurial-firm projects is rife with informational and contracting problems …

Persistent link: https://www.econbiz.de/10010950751

Subsidies and the Persistence of Technology Adoption: Field Experimental Evidence from Mozambique

Carter, Michael R.; Laajaj, Rachid; Yang, Dean - National Bureau of Economic Research (NBER) - 2014

We report the results of a randomized experiment testing impacts of subsidies for modern agricultural inputs in rural Mozambique. One-time provision of a voucher for fertilizer and improved seeds leads to substantial increases in fertilizer use, which persist through two subsequent agricultural...

Persistent link: https://www.econbiz.de/10010950768

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