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This paper investigates empirically the linkages between corporate debt overhang and investment activity at the firm … investment may be discouraged by high levels of debt that put at risk future profits, as well as firm dimensions that may sharpen … the debt-investment link. Using balance sheet data from a broad set of emerging market and developing economy firms, the …
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Can changing the rules of the game affect government performance? This paper studies the impact of a simple procedural reform on the efficiency and quality of adjudication in Senegal. The reform gave judges the duty and powers to conclude pre-trial proceedings within a four-month deadline. The...
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