This paper explores firm-level heterogeneity to identify the underlying drivers of market power trends in Romania and the implications for competition and economic growth. The results show that the (sales-weighted) average markup in Romania increased by around 15 percent between 2008 and 2017. A...

"This paper studies the decision of firms to extend trade credit to customers and its relation with their financing decisions. The authors use a novel firm-level database of Chinese SMEs with unique information on market power in both output and input markets and on the amount, terms, and...

This paper studies loan conditions in a context where private banks can operate in two credit markets: a free-market with no government intervention and an earmarked market that relies on government funds and where interest rates are regulated. The paper examines the effects of earmarked lending...