Do more guns cause less crime or more crime? Some authors argue that the spread of firearms encourage violent solutions to interpersonal conflicts. Other authors, however, suggest that the defensive use of gun decreases economic crime. In this paper we proposed an identification strategy to...

Financial constraints on Brazilian firms are very high compared to advanced economies. In Brazil, 59% of firms have access to a bank loan or a credit line. In developed countries, the average percentage is 95%. Loan collateral requirements are much higher in Brazil (95% of the loan value) than...